I'm not going to support my friend in her student election campaign
Why don't you want to support her?
I've talked to her about this and we see eye to eye -- she should do it on her own. I can't help.
You should support your friend. She would love your help. It's only fair to her and it could swing the election in her favor.
That could end badly
I don't see how it could end badly. Just offer her your support, even if it just means doing small things for her.