Ole Miss fans' excitement over their team's big win against Georgia just cost their university $350,000 ... as the SEC handed the school a hefty fine after spectators stormed the field before time expired in Saturday's matchup.
The conference announced the penalty on Monday ... days after the Rebels handled the No. 3-ranked Bulldogs in a 28-10 effort.
The penalty is split up due to two infractions -- $250k for the fans rushing the gridiron ... and another $100k for doing so with time remaining in the contest.
Ole Miss head coach Lane Kiffin was furious about the incident .