1972 Reward Ranking (before bowl games)
| Rank | Name | W | L | T | Reward | AP | UPI |
| 1 | SouthernCalifornia | 11 | 0 | 0 | 6.1454 | 1 | 1 |
| 2 | Auburn | 9 | 1 | 0 | 5.8676 | 6 | 7 |
| 3 | Alabama | 10 | 1 | 0 | 5.7852 | 4 | 4 |
| 4 | Oklahoma | 10 | 1 | 0 | 5.5848 | 2 | 2 |
| 5 | OhioState | 9 | 1 | 0 | 5.1068 | 3 | 3 |
| 6 | LouisianaState | 9 | 1 | 1 | 5.0906 | 10 | 10 |
| 7 | Michigan | 10 | 1 | 0 | 4.7643 | 8 | 6 |
| 8 | Texas | 9 | 1 | 0 | 4.6935 | 7 | 5 |
| 9 | NorthCarolina | 10 | 1 | 0 | 4.4773 | 16 | 14T |
| 10 | Tennessee | 9 | 2 | 0 | 4.3790 | 11 | 11 |
| 11 | PennState | 10 | 1 | 0 | 4.1411 | 5 | 8 |
| 12 | Nebraska | 8 | 2 | 1 | 3.3721 | 9 | 9 |
| 13 | NotreDame | 8 | 2 | 0 | 3.3209 | 12 | 12 |
| 14 | UCLA | 8 | 3 | 0 | 3.1941 | 14 | 17T |
| 15 | SanDiegoState | 10 | 1 | 0 | 3.1333 | NR | 20 |
| 16 | Colorado | 8 | 3 | 0 | 2.7680 | 13 | 14T |
| 17 | Washington | 8 | 3 | 0 | 2.6133 | ||
| 18 | Dartmouth | 7 | 1 | 1 | 2.5844 | ||
| 19 | TexasTech | 8 | 3 | 0 | 2.2752 | ||
| 20 | Yale | 7 | 2 | 0 | 2.1014 | ||
| 21 | Georgia | 7 | 4 | 0 | 1.8943 | ||
| 22 | Louisville | 9 | 1 | 0 | 1.8048 | 17 | 16 |
| 23 | NorthCarolinaState | 7 | 3 | 1 | 1.6395 | ||
| 24 | MichiganState | 5 | 5 | 1 | 1.5969 | ||
| 25 | EastCarolina | 9 | 2 | 0 | 1.5859 | ||
| 26 | ArizonaState | 9 | 2 | 0 | 1.5419 | 15 | 13 |
| 27 | Florida | 5 | 5 | 1 | 1.5194 | ||
| 28 | Missouri | 6 | 5 | 0 | 1.3541 | ||
| 29 | GeorgiaTech | 6 | 4 | 1 | 1.3525 | ||
| 30 | Arkansas | 6 | 5 | 0 | 1.3042 | ||
| 31 | WashingtonState | 7 | 4 | 0 | 1.2977 | 19 | 17 |
| 32 | SouthernMethodist | 7 | 4 | 0 | 1.2467 | ||
| 33 | UtahState | 8 | 3 | 0 | 1.2260 | NR | 17 |
| 34 | WestVirginia | 8 | 3 | 0 | 1.1667 | 18 | NR |
| 35 | Rice | 5 | 5 | 1 | 1.1522 | ||
| 36 | OklahomaState | 6 | 5 | 0 | 1.1338 | ||
| 37 | Baylor | 5 | 6 | 0 | 1.1060 | ||
| 38 | Cornell | 6 | 3 | 0 | 0.9941 | ||
| 39 | Stanford | 6 | 5 | 0 | 0.9864 | ||
| 40 | Tulane | 6 | 5 | 0 | 0.9228 | ||
| 41 | TexasChristian | 5 | 6 | 0 | 0.8927 | ||
| 42 | Mississippi | 5 | 5 | 0 | 0.8493 | ||
| 43 | Pennsylvania | 6 | 3 | 0 | 0.7318 | ||
| 44 | IowaState | 5 | 5 | 1 | 0.7301 | ||
| 45 | Pacific | 8 | 3 | 0 | 0.6411 | ||
| 46 | Purdue | 6 | 5 | 0 | 0.6284 | 20 | NR |
| 47 | Kansas | 4 | 7 | 0 | 0.5698 | ||
| 48 | FloridaState | 7 | 4 | 0 | 0.5415 | ||
| 49 | Duke | 5 | 6 | 0 | 0.5237 | ||
| 50 | Army | 6 | 4 | 0 |