1994 Reward Ranking (after bowl games)
| Rank | Name | W | L | T | Reward | AP | ESPN/USA Today |
| 1 | Nebraska | 13 | 0 | 0 | 8.3828 | 1 | 1 |
| 2 | PennState | 12 | 0 | 0 | 8.1413 | 2 | 2 |
| 3 | Alabama | 12 | 1 | 0 | 7.0061 | 5 | 4 |
| 4 | Colorado | 11 | 1 | 0 | 6.9852 | 3 | 3 |
| 5 | FloridaState | 10 | 1 | 1 | 6.8583 | 4 | 5 |
| 6 | Auburn | 9 | 1 | 1 | 6.3077 | 9 | Prob. |
| 7 | TexasA&M | 10 | 0 | 1 | 6.2066 | 8 | Prob. |
| 8 | Miami(Florida) | 10 | 2 | 0 | 6.1942 | 6 | 6 |
| 9 | Florida | 10 | 2 | 1 | 5.9462 | 7 | 7 |
| 10 | ColoradoState | 10 | 2 | 0 | 5.2203 | 16 | 14 |
| 11 | Utah | 10 | 2 | 0 | 5.2172 | 10 | 8 |
| 12 | NorthCarolinaState | 9 | 3 | 0 | 4.2295 | 17 | 17 |
| 13 | Virginia | 9 | 3 | 0 | 4.1787 | 15 | 13 |
| 14 | SouthernCalifornia | 8 | 3 | 1 | 4.1016 | 13 | 15 |
| 15 | Michigan | 8 | 4 | 0 | 3.8588 | 12 | 12 |
| 16 | OhioState | 9 | 4 | 0 | 3.8339 | 14 | 9 |
| 17 | BrighamYoung | 10 | 3 | 0 | 3.8096 | 18 | 10 |
| 18 | KansasState | 9 | 3 | 0 | 3.7703 | 19 | 16 |
| 19 | Oregon | 9 | 4 | 0 | 3.4377 | 11 | 11 |
| 20 | Washington | 7 | 4 | 0 | 3.4099 | 30 | Prob. |
| 21 | Tennessee | 8 | 4 | 0 | 3.3801 | 22 | 18 |
| 22 | NorthCarolina | 8 | 4 | 0 | 3.1840 | 27 | 21 |
| 23 | WashingtonState | 8 | 4 | 0 | 3.1653 | 21 | 19 |
| 24 | Duke | 8 | 4 | 0 | 3.1315 | 31 | 28 |
| 25 | Arizona | 8 | 4 | 0 | 3.1262 | 20 | 20 |
| 26 | MississippiState | 8 | 4 | 0 | 3.0817 | 24 | 25 |
| 27 | VirginiaTech | 8 | 4 | 0 | 2.9875 | 26 | 24 |
| 28 | Wisconsin | 7 | 4 | 1 | 2.9528 | 28 | 26 |
| 29 | Texas | 8 | 4 | 0 | 2.8411 | 25 | 23 |
| 30 | BostonCollege | 7 | 4 | 1 | 2.7668 | 23 | 22 |
| 31 | AirForce | 8 | 4 | 0 | 2.7181 | 33T | 31 |
| 32 | Syracuse | 7 | 4 | 0 | 2.6760 | 32 | 30 |
| 33 | Nevada | 9 | 2 | 0 | 2.5055 | ||
| 34 | Illinois | 7 | 5 | 0 | 2.3580 | ||
| 35 | Georgia | 6 | 4 | 1 | 2.3284 | ||
| 36 | NotreDame | 6 | 5 | 1 | 2.2928 | ||
| 37 | BowlingGreenState | 9 | 2 | 0 | 2.2688 | ||
| 38 | Oklahoma | 6 | 6 | 0 | 2.0000 | ||
| 39 | Iowa | 5 | 5 | 1 | 1.8119 | ||
| 40 | UCLA | 5 | 6 | 0 | 1.8081 | ||
| 41 | CentralMichigan | 9 | 3 | 0 | 1.8046 | ||
| 42 | MichiganState | 5 | 6 | 0 | 1.7877 | ||
| 43 | Indiana | 6 | 5 | 0 | 1.5728 | ||
| 44 | EastCarolina | 7 | 5 | 0 | 1.5650 | ||
| 45 | SouthCarolina | 7 | 5 | 0 | 1.5127 | ||
| 46 | TexasTech | 6 | 6 | 0 | 1.4944 | ||
| 47 | SouthernMississippi | 6 | 5 | 0 | 1.4863 | ||
| 48 | Clemson | 5 | 6 | 0 | 1.4716 | ||
| 49 | Kansas | 6 | 5 | 0 | 1.4483 | ||
| 50 | WestVirginia | 7 | 6 | 0 |