Under that program, established in 1988, the state is supposed to match such private donations for the endowed positions dollar-for-dollar, essentially doubling the value of the gift. In recent years, the program became so popular that a backlog of almost $125 million developed.

In May, the Legislature passed a $100 million bond issue designed to address that backlog and said it would place a temporary moratorium on dollar-for-dollar matches of donations made to the program until the state catches up on the backlog. But donations made through June 30 will still be matched, prompting the rush.

Oklahoma State University has been particularly aggressive, adding more than $125 million in gifts for endowed chairs — teaching positions funded from proceeds of investments — since May. Of that, $100 million came in a single gift from billionaire oilman and OSU alumnus T. Boone Pickens.

OSU President Burns Hargis, who took office in March, said to call recent fundraising efforts "an extra push would be an understatement. I would call it almost hyper. I have no trouble getting up in the morning. I don't need an alarm. My feet hit the floor and I'm at full speed."

Smaller, regional colleges also are working to beat the deadline. Northwestern Oklahoma State University spokesman Steve Valencia said that within the last 30 days,

Earlier this week, the University of Central Oklahoma announced it had received $2 million, the largest endowed gift in the Edmond school's history.

"We knew we were going to get a gift," said Anne Holzberlein, UCO's vice president of development. The deadline "allowed me to call them and say, 'We don't know what will happen in the future. If we want to be sure to get it in the pipeline, we need to get it in.' I believe it helped us close it a little bit."

Ben Hardcastle, a spokesman for state regents, said that schools have reported so many donations in recent weeks it's been difficult for the regents' staff to keep an accurate count.

Before the bond issue was passed, 14 colleges and universities in Oklahoma were awaiting matching money for 437 donations.

"We knew that they were going to put a big push out to raise money," said state Rep. Tad Jones, R-Claremore, the chairman of the House Education Committee. "That's good that there are donors willing to invest in universities."

University of Oklahoma President David Boren estimated that even with the $100 million from the recent bond issue, by the time the moratorium on dollar-for-dollar matches takes effect, there could be a backlog of $200 million in what state higher education officials refer to as the "queue" for matching funds.

Jones said how the Legislature might choose to erase that backlog has yet to be determined. Hargis said the state's Rainy Day Fund could be used, although he acknowledged that option would not be popular with Gov. Brad Henry, who has shied away from dipping into the fund. Boren said another bond issue could be considered.

The Legislature could also simply appropriate the money from general funds, although higher education Chancellor Glen Johnson said that option might not be feasible, considering the state will operate under a mostly standstill budget for the coming fiscal year.

"We need to be sensitive to what the Legislature is saying, that funding it at this level, at least in the near future, is something they may not be able to do," Johnson said.

As part of the agreement that led to the $100 million bond issue, legislators imposed an annual cap on matching funds in the future, with the state matching 100 percent of the first $250,000 of a private donation and 25 percent of any amount above $250,000. The total annual commitment for state matching funds will be capped at $5 million.

Boren, Hargis and other state higher education officials hope that decision will be revisited. Jones indicated it might be "after we catch up ... Hopefully the moratorium will help us get our arms around the program."

Hargis said he thinks ultimately, guidelines can be placed on the program to "bring some order to all this. Now, there is no limit on it. There is nothing provided as to when it had to be matched. That's what we have to do, put more structure in it."