NCAA rules on simultaneous catch is quite different than NF. Here is the NCAA AR rulings.
II. Two opposing players receive a legal forward pass while both are
off the ground, and both players return to the ground inbounds at the
same time. RULING: Simultaneous catch; the ball is awarded to the
passing team (Rule 2-2-8).
III. Two opposing players receive a ball while both are off the ground,
and one player returns to the ground inbounds before the other.
RULING: No simultaneous catch. The legal forward pass is
completed or intercepted by the player who first returned to the
ground (Rule 2-2-8).
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