Mississippi State's marketing/media department is doing this. And according to my marketing director for the bank I work for, Ole Miss hasn't made a decision on whether to allow this kind of program yet. So basically, you can't even get an Ole Miss debit card yet. Mississippi State would be the only one you could get right now. My bank looked into doing it a few months ago, but the up front cost was too much and our customer base isn't even close to Regions, Bancorp, etc.
Also, most all banks outsource their check ordering. You can get pretty much any collegiate logo that you want on your checks.