GALESBURG, Ill. – A small central Illinois college says it would even consider reissuing a new, fireproof honorary degree to simmer down last spring’s commencement speaker, satirist Stephen Colbert.

The arch-browed comic threatened to burn the honorary doctorate of fine arts he received last year after Knox College landed former President Bill Clinton as next June’s graduation speaker.

Colbert fumed that Clinton had “stolen his thunder” Monday during an installment he calls “Who’s Riding My Coattails Now” on his Comedy Central program, “The Colbert Report.”

“If you give Clinton the same doctorate you gave me, I will be forced to burn (my degree) on the air,” Colbert said.

Knox College President Roger Taylor said Wednesday that Colbert has nothing to worry about.

“You were awarded an honorary doctorate of fine arts, in recognition of your outstanding work as a political satirist. President Clinton will receive an honorary doctorate of laws for his achievements in public service. It’s not the same degree at all,” Taylor said in a statement.

Taylor says he would even be willing to appear on Colbert’s show to “reassure you in person that you are in fine standing among the long and distinguished roster of men and women who hold honorary degrees from Knox,” Taylor said.

Illinois Sen. Barack Obama, who is exploring a bid for the Democratic presidential nomination was the commencement speaker in 2005 at the 1,245-student college.

Knox doesn’t pay fees to its graduation speakers, but has at least one well-placed alum.

John Podesta, who served as President Clinton’s chief of staff, graduated from Knox in 1971 and assisted with the pitches to his old boss and Colbert. He also concedes that he also may have helped scoop up Obama, “bending his ear” once when he ran into the senator in Washington.