Starting in 2014, their will be a 4 team playoff. 1 vs. 4, 2 vs. 3. Then obviously the winners facing off in the championship game.
The top 4 teams will be selected by a committee.
http://www.ncaa.com/news/football/ar...r-team-playoff
And here is a link to how the rest of the "BCS" bowls will work.
http://aol.sportingnews.com/ncaa-foo...games-big-east