Overrated and Underrated College Football Teams - Reviewing 2024 NCAA CFB Rankings For Week 3

Jackson's list of overrated and underrated CFB power rankings from AP, for 2024 NCAA college football teams for Week 3. Who are the most overvalued and undervalued college football teams after Week 2?

We're only two full weeks into the 2024 college football season, and there have already been plenty of surprises. Who picked Northern Illinois to go into South Bend and defeat Notre Dame? Not many. Meanwhile, UT (Texas) and UT (Tennessee) collected blowout wins over Top-25 opponents, Oklahoma struggled in a two-point win over Houston, and Boise State gave Oregon all it could handle in Eugene.

While the Week 3 college football slate isn't the prettiest batch of games, the season is starting to heat up, and the pecking order of teams will begin to become clearer as each Saturday comes and goes. For now, it's time to pick apart the AP voters' rankings.

It's time for the first article of a year-long series: Overrated and Underrated College Football Teams after the release of the weekly Associated Press Poll. All rankings listed are based on the AP Poll.

Week 3 College Football AP Poll

BREAKING: Week 3 College Football AP Poll🚨https://t.co/1LJ7WzV8RN pic.twitter.com/nFftgvgaGY

— On3 (@On3sports) September 8, 2024

Overrated College Football Teams For Week 3

Penn State Nittany Lions: No. 8

Penn State had a nice opening-week win at West Virginia. But its Week 2 performance against Bowling Green raises concern. The Nittany Lions trailed at the end of the first and second quarters, allowed a 50% third-down conversion rate, and were torched for 375 total yards.

Penn State has made its money on the defensive side of the ball in recent seasons, so this is not a good sign. James Franklin's squad should not have needed a true four-quarter effort to put the Falcons away.

Teams often overlook inferior opponents from small conferences, so this game could have just been a hiccup that will get corrected. However, early in the season, Miami clearly looks like the better team. Penn State got jumped by Tennessee and Missouri in the rankings, but falling one more spot behind Miami would've been justified.

Notre Dame Fighting Irish: No. 18

Former Notre Dame head coach Brian Kelly was known for not being able to win "the big game," but it appears current coach Marcus Freeman can't win the "small" ones. Through Freeman's first 26 regular-season games, the Irish have lost to Marshall and Northern Illinois at home.  Last season, Notre Dame lost to a 4-4 unranked Clemson squad.

Big-name transfer quarterback Riley Leonard continues to look like an incapable passer, as he tossed for just 163 yards, no touchdowns, and two interceptions on 32 passing attempts against the Huskies in Week 2. Notre Dame's running back duo of Jeremiyah Love and Jadarian Price looked good again, but in today's college football, it's tough to win with no passing attack.

A SOUTH BEND STUNNER‼️

28-point underdog Northern Illinois beats Notre Dame for its first top-10 win in school history 😮 pic.twitter.com/MZphQ3ZIq0

— ESPN (@espn) September 7, 2024

Something isn't right with the preparation in South Bend, and the embarrassing loss against NIU on Saturday should at least drop them a few more spots -- if not out of the top 25 altogether. The Irish might have a championship-level defense, but again, offense is king in college football.

Underrated College Football Teams For Week 3

Miami Hurricanes: No. 10

Understandably, the AP voters did not get too bought into the preseason Miami hype, and the Hurricanes began the season as the No. 19 team in the nation. After going into the Swamp and whooping the Florida Gators in Week 1, the Canes moved into the No. 12 spot. After a 56-9 beating of Florida A&M, they moved up two more spots.

This is not enough, especially given the struggles of No. 9 Oregon and No. 8 Penn State against inferior opponents. Through Cam Ward's first two games, he's completed 75.4% of his passes for 689 yards, six touchdowns, and one interception. He also had one rushing score against Florida A&M. Star transfer running back Damien Martinez hasn't been needed, but he's quietly averaging 6.0 yards per carry.

35 yard dot on the run like it’s a Tuesday practice😵‍💫🤯 Cam Ward is so elite pic.twitter.com/b12jhfVk3b

— Jesus Shuttlesworth (@PlutoCane_23) September 8, 2024

Miami is loaded with experienced talent, and Ward looks every bit of a top-tier Heisman Trophy contender. Miami looks like a legitimate playoff team early on, so a No. 8 ranking would have been appropriate heading into Week 3. Don't be shocked when this squad is ranked inside the top five in a few weeks.

Nebraska Cornhuskers: No. 23

Yes, Colorado is likely not a great team, but the Cornhuskers handled Deion Sanders' squad with ease on Saturday night. Freshman quarterback Dylan Raiola appears to be the real deal, but the Nebraska defense was the star of the show in Week 2.

The Buffaloes were and are expected to at least have a high-powered offense, and Nebraska held that unit to 260 total yards, 16 yards rushing, and just 10 points (all in the second half). Nebraska corner Tommi Hill snagged a pick-six off of Shedeur Sanders in the first quarter, and Colorado could never recover.

PICK SIX NEBRASKA 😱@HuskerFootball pic.twitter.com/YYGTsj6f4o

— FOX College Football (@CFBONFOX) September 8, 2024

On offense, Nebraska's rushing attack averaged 8.0 yards per carry en route to a 28-0 halftime lead. It's too early to get too high on Nebraska since Colorado might just be "that bad," but Matt Rhule's team could have at least been ranked ahead of No. 22 Clemson and No. 18 Notre Dame for now.

Syracuse Orange: NR

Georgia Tech became a popular team to root for after it defeated Florida State in Dublin, Ireland in Week 0. The Yellow Jackets entered Week 2 with a No. 23 ranking next to its name, but Syracuse was not phased. Year 1 under new head coach Fran Brown is off to a hot start, and so is former Ohio State quarterback Kyle McCord.

The Orange defeated Georgia Tech 31-28, its first win over a ranked opponent since 2022. McCord has been excellent through two games, throwing for 735 yards, eight touchdowns, and just one pick. The ACC looks behind Miami to open up the 2024 campaign, but Syracuse might just have the offense to make a run toward playing in the conference title game.

No. 24 Boston College and No. 25 Northern Illinois are fun additions to the Week 3 rankings, but Syracuse can stake a claim to be ahead of them in the early-season polls.

More Fantasy Football Analysis