I think they will put in the three undefeated conference champions…MI, Washington and FSU. That leaves one spot for Texas or Alabama. To me it's a no brainer to pick Texas over Alabama, but there is a huge SEC bias that could very well win out. Hypothetically speaking, if Alabama gets in and wins the natty, that does not (I repeat does NOT) mean that the committee made the right decision. It does not mean Texas wouldn't have won for instance. Similar to the NFL, conference champions get in and then the best records of the next teams (using tie breakers) get in. First tie breaker? Head to head. In college football there are only four spots, which makes it highly subjective who gets in, and basically every year there are legitimate arguments to be made that this team shouldn't have been in and that team should have. Even next year with 12 team playoff, there will be subjective criteria used to "select" the 12 teams. That will be way better than selecting only four teams, but still subjective. When you have subjective criteria to determine who gets in, you have subjective championships. Win your conference? You get in no matter if you're not as good (either to the eye or by record) than a second place in another conference.