1987 Reward Ranking (after bowl games)
| Rank | Name | W | L | T | Reward | AP | UPI |
| 1 | Miami(Florida) | 12 | 0 | 0 | 8.8901 | 1 | 1 |
| 2 | FloridaState | 11 | 1 | 0 | 7.7801 | 2 | 2 |
| 3 | Oklahoma | 11 | 1 | 0 | 7.0952 | 3 | 3 |
| 4 | Syracuse | 11 | 0 | 1 | 6.6702 | 4 | 4 |
| 5 | LouisianaState | 10 | 1 | 1 | 6.5615 | 5 | 5 |
| 6 | Auburn | 9 | 1 | 2 | 6.2298 | 7 | 7 |
| 7 | Nebraska | 10 | 2 | 0 | 6.1990 | 6 | 6 |
| 8 | MichiganState | 9 | 2 | 1 | 5.4373 | 8 | 8 |
| 9 | TexasA&M | 10 | 2 | 0 | 5.4282 | 10 | 9 |
| 10 | Clemson | 10 | 2 | 0 | 5.1716 | 12 | 10 |
| 11 | UCLA | 10 | 2 | 0 | 5.0160 | 9 | 11 |
| 12 | OklahomaState | 10 | 2 | 0 | 4.6568 | 11 | 12 |
| 13 | Tennessee | 10 | 2 | 1 | 4.6068 | 14 | 13 |
| 14 | Georgia | 9 | 3 | 0 | 4.5119 | 13 | 14 |
| 15 | Iowa | 10 | 3 | 0 | 4.1245 | 16 | 16 |
| 16 | NotreDame | 8 | 4 | 0 | 4.1148 | 17 | "21T" |
| 17 | SouthCarolina | 8 | 4 | 0 | 3.7578 | 15 | 15 |
| 18 | SouthernCalifornia | 8 | 4 | 0 | 3.6591 | 18 | 17 |
| 19 | PennState | 8 | 4 | 0 | 3.2631 | 25 | "21T" |
| 20 | Michigan | 8 | 4 | 0 | 3.2394 | 19 | 17 |
| 21 | Indiana | 8 | 4 | 0 | 2.8976 | 22 | 20 |
| 22 | SanJoseState | 10 | 2 | 0 | 2.8926 | 31 | NR |
| 23 | Wyoming | 10 | 3 | 0 | 2.8844 | 24 | "21T" |
| 24 | Pittsburgh | 8 | 4 | 0 | 2.8307 | 23 | "21T" |
| 25 | Alabama | 7 | 5 | 0 | 2.5939 | 27 | "21T" |
| 26 | Arkansas | 9 | 4 | 0 | 2.5716 | 29 | "21T" |
| 27 | Florida | 6 | 6 | 0 | 2.4709 | 32T | |
| 28 | EasternMichigan | 10 | 2 | 0 | 2.3827 | 26 | |
| 29 | OhioState | 6 | 4 | 1 | 2.3051 | 34 | "21T" |
| 30 | Virginia | 8 | 4 | 0 | 2.2747 | 30 | |
| 31 | Washington | 7 | 4 | 1 | 2.2530 | 28 | |
| 32 | Colorado | 7 | 4 | 0 | 2.1969 | ||
| 33 | TexasTech | 6 | 4 | 1 | 2.1228 | ||
| 34 | BrighamYoung | 9 | 4 | 0 | 2.0333 | ||
| 35 | ArizonaState | 7 | 4 | 1 | 1.9344 | 20 | "21T" |
| 36 | Texas | 7 | 5 | 0 | 1.9176 | 21 | 19 |
| 37 | BostonCollege | 5 | 6 | 0 | 1.7660 | ||
| 38 | Oregon | 6 | 5 | 0 | 1.7106 | ||
| 39 | WakeForest | 7 | 4 | 0 | 1.5401 | ||
| 40 | AirForce | 9 | 4 | 0 | 1.4568 | ||
| 41 | Arizona | 4 | 4 | 3 | 1.1418 | ||
| 42 | WestVirginia | 6 | 6 | 0 | 1.1333 | ||
| 43 | Kentucky | 5 | 6 | 0 | 1.0201 | ||
| 44 | Rutgers | 6 | 5 | 0 | 0.9677 | ||
| 45 | Stanford | 5 | 6 | 0 | 0.9630 | ||
| 46 | Missouri | 5 | 6 | 0 | 0.9561 | ||
| 47 | Memphis | 5 | 5 | 1 | 0.9363 | ||
| 48 | SouthernMississippi | 6 | 5 | 0 | 0.7165 | ||
| 49 | TexasChristian | 5 | 6 | 0 | 0.6920 | ||
| 50 | NorthCarolina | 5 | 6 | 0 |