The consequences can be severe. It will depend on the specific alleged defense. Is the student accused of non-consensual sex, which is rape? Is a student accused of say, touching another student without their consent, touching their breasts or their behind, for example? Is a student accused of oral sex without a person's consent. So the nature of the offense will potentially dictate the possible sanction if a student is found responsible. Certain kinds of behavior, if a student is found responsible or misconduct, if a student's found responsible are more likely to result in a specific sanction.
Non-consensual sex, even if there's no force, 99 out of 100 times will result in an expulsion. Penetration of any kind would result at a minimum in a suspension. If there's aggravating factors, it would also result in an expulsion. Non-consensual touching of somebody, even if not consensual touching of a person's breast, it could result in a suspension also. So much is at stake. An experienced attorney advisor should be involved to help navigate the process and to protect your rights.