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James Wiseman is getting support from a Presidential candidate -- with Andrew Yang saying it's "so bogus" for the NCAA to hit him with a $11,500 "fine" for accepting a loan.

"Oh my gosh, come on! Let James Wiseman freaking play," Yang tells TMZ Sports ... "We should be paying NCAA athletes on the regular instead of cutting them off!"

As we previously reported, the NCAA has suspended the Memphis basketball superstar for 12 games and told him he "must donate $11,500 to a charity of his choice."

The money part of the punishment is what's really pissing people off because Wiseman isn't allowed to accept cash gifts from people or he'll forfeit his amateur status ... and how the hell is a college kid with a full-time hoops obligation gonna make that kind of money??

"I feel for James Wiseman," Yang says ... "Happily, he's still gonna wind up a Top 5, Top 10 pick in the NBA Draft so it's gonna be okay for him but he should still be on the court right now playing."

Wiseman's family admitted to accepting an $11,500 loan from Penny Hardaway back in 2017 so they could pay for moving expenses to attend a prominent Tennessee high school.

The NCAA considered Hardaway to be a booster because he had previously donated $1 million to Memphis in 2008.

Hardaway was hired to be the head basketball coach at Memphis in 2018.

Other high-profile stars have rallied for Wiseman -- including ex-NBA player David West who told TMZ Sports the suspension is total B.S.