The College Football Playoff committee released its fifth set of rankings Tuesday, the final indicator before the 12-team playoff field is set Sunday.
The bracket is composed of the five highest-ranked conference champions and seven more at-large teams. The top four conference champions receive first-round byes, while the other eight schools will play games at the home sites of the better seeds.
Below you'll find the latest projected bracket with byes and first-round matchups as well as the latest top 25.
12-team bracket
First-round byes
Note: Seeding is based on the CFP top 25.
No. 1 seed Oregon Ducks
No. 2 seed Texas Longhorns
No. 3 seed SMU Mustangs
No. 4 seed Boise State Broncos
First-round matchups (on campus)
No. 9 Tennessee Volunteers at No. 8 Ohio State Buckeyes
Winner plays: No. 1 Oregon
No. 12 Arizona State Sun Devils at No. 5 Penn State Nittany Lions
Winner plays: No. 4 Boise State
No. 11 Alabama Crimson Tide at No. 6 Notre Dame Fighting Irish
Winner plays: No. 3 SMU
No. 10 Indiana Hoosiers at No. 7 Georgia Bulldogs
Winner plays: No. 2 Texas
Top 25
1. Oregon (12-0)
2. Texas (11-1)
3. Penn State (11-1)
4. Notre Dame (11-1)
5. Georgia (10-2)
6. Ohio State (10-2)
7. Tennessee (10-2)
8. SMU (11-1)
9. Indiana (11-1)
10. Boise State (11-1)
11. Alabama (9-3)
12. Miami (10-2)
13. Ole Miss (9-3)
14. South Carolina (9-3)
15. Arizona State (10-2)
16. Iowa State (10-2)
17. Clemson (9-3)
18. BYU (10-2)
19. Missouri (9-3)
20. UNLV (10-2)
21. Illinois (9-3)
22. Syracuse (9-3)
23. Colorado (9-3)
24. Army (10-1)
25. Memphis (10-2)