1988 Reward Ranking (before bowl games)
| Rank | Name | W | L | T | Reward | AP | UPI |
| 1 | NotreDame | 11 | 0 | 0 | 9.0198 | 1 | 1 |
| 2 | SouthernCalifornia | 10 | 1 | 0 | 7.3529 | 5 | 5 |
| 3 | Miami(Florida) | 10 | 1 | 0 | 7.2558 | 2 | 2 |
| 4 | WestVirginia | 11 | 0 | 0 | 6.7368 | 3 | 3 |
| 5 | FloridaState | 10 | 1 | 0 | 6.5627 | 4 | 4 |
| 6 | Nebraska | 11 | 1 | 0 | 6.5078 | 6 | 6 |
| 7 | Auburn | 10 | 1 | 0 | 6.0540 | 7 | 7 |
| 8 | UCLA | 9 | 2 | 0 | 5.9822 | 9 | 9 |
| 9 | Arkansas | 10 | 1 | 0 | 5.6424 | 8 | 8 |
| 10 | Wyoming | 11 | 1 | 0 | 5.5874 | 15 | 15 |
| 11 | Oklahoma | 9 | 2 | 0 | 5.5666 | 10 | 10 |
| 12 | Clemson | 9 | 2 | 0 | 4.6906 | 13 | 13 |
| 13 | OklahomaState | 9 | 2 | 0 | 4.5208 | 12 | 12 |
| 14 | Michigan | 8 | 2 | 1 | 4.4997 | 11 | 11 |
| 15 | WashingtonState | 8 | 3 | 0 | 4.4168 | 18 | 18 |
| 16 | SouthernMississippi | 9 | 2 | 0 | 4.4085 | NR | NR |
| 17 | Houston | 9 | 2 | 0 | 4.4084 | 14 | 14 |
| 18 | LouisianaState | 8 | 3 | 0 | 4.1427 | 16 | 17 |
| 19 | Syracuse | 9 | 2 | 0 | 4.0590 | 17 | 16 |
| 20 | Texas-ElPaso | 10 | 2 | 0 | 3.8590 | NR | NR |
| 21 | Arizona | 7 | 4 | 0 | 3.6014 | NR | NR |
| 22 | Colorado | 8 | 3 | 0 | 3.3128 | NR | 20T |
| 23 | SouthCarolina | 8 | 3 | 0 | 3.2705 | NR | NR |
| 24 | Alabama | 8 | 3 | 0 | 3.2338 | 20 | 20T |
| 25 | NorthCarolinaState | 7 | 3 | 1 | 3.1838 | ||
| 26 | Louisville | 8 | 3 | 0 | 3.1159 | ||
| 27 | Hawaii | 9 | 3 | 0 | 3.0610 | ||
| 28 | Georgia | 8 | 3 | 0 | 2.8498 | 19 | 19 |
| 29 | Army | 9 | 2 | 0 | 2.8020 | ||
| 30 | WesternMichigan | 9 | 2 | 0 | 2.7613 | ||
| 31 | Duke | 7 | 3 | 1 | 2.5817 | ||
| 32 | Indiana | 7 | 3 | 1 | 2.3947 | ||
| 33 | Virginia | 7 | 4 | 0 | 2.3182 | ||
| 34 | ArizonaState | 6 | 5 | 0 | 2.2939 | ||
| 35 | MichiganState | 6 | 4 | 1 | 2.2055 | ||
| 36 | Washington | 6 | 5 | 0 | 2.1714 | ||
| 37 | BrighamYoung | 8 | 4 | 0 | 2.1367 | ||
| 38 | Oregon | 6 | 6 | 0 | 2.0073 | ||
| 39 | California | 5 | 5 | 1 | 1.8751 | ||
| 40 | Iowa | 6 | 3 | 3 | 1.7621 | ||
| 41 | Illinois | 6 | 4 | 1 | 1.7346 | ||
| 42 | WakeForest | 6 | 4 | 1 | 1.6873 | ||
| 43 | TexasA&M | 7 | 5 | 0 | 1.6872 | ||
| 44 | FresnoState | 9 | 2 | 0 | 1.6700 | ||
| 45 | Maryland | 5 | 6 | 0 | 1.4907 | ||
| 46 | BallState | 8 | 3 | 0 | 1.4856 | ||
| 47 | EasternMichigan | 6 | 3 | 1 | 1.4380 | ||
| 48 | Florida | 6 | 5 | 0 | 1.3067 | ||
| 49 | Pittsburgh | 6 | 5 | 0 | 1.3033 | ||
| 50 | PennState | 5 | 6 | 0 | 1.2698 |