I will have another go at this, but this time, I will contract from 65 to 60 for tier 1. I will also include a tier 2 (sorry Sun Belt). Both tiers will involve 60 teams. There can be a tier 3 which would involve leftovers along with top FCS teams. In this scenario, I sent off Wake, BC, Iowa St, Kan St, and Baylor. Here is tier one w/ divisions:

ACC1: VT, UVA, Duke, UNC, Miami, WVU, TCU, Texas
ACC2: Clemson, Syracuse, NC St, Louisville, FSU, Pitt, GT, Notre Dame

BT1: Michigan, Mich St, Ohio St, Penn St, Rutgers, Maryland, Indiana, Purdue
BT2: Nebraska, Wisconsin, Kansas, Mizzou, Iowa, Minnesota, N'western, Illinois

Pac1: Washington, Wash St, Oregon, Or St, Cal, Stanford, Utah
Pac2: USC, UCLA, Arizona, Ariz St, Colorado, Texas Tech, Okl St.

SEC1: Florida, Georgia, S. Carolina, Tennessee, Vandy, Kentucky, Oklahoma
SEC2: Alabama, Auburn, LSU, Mississippi, Miss St, Texas A&M, Arkansas

Things to note: the ACC and Big Ten go to 16 teams, the SEC stays at 14, and the Pac 12 becomes the Pac 14 (w/ the Big 12 disbanding). Texas realizes its only possible home it would be okay with is the ACC - they bring a buddy (TCU). West VA is added to make 16 with the losses of BC & Wake.
Mizzou bolts to the Big Ten w/ Kansas. In response, Oklahoma is added for #14 - only one spot open so Oklahoma St weasels its way into the PAC 14 w/ Texas Tech (this would expand Pac 14 Network area).

Tier 2:
AAC1: Wake, BC, UMass, Temple, UConn, ECU, UCF, USF
AAC2: Houston, Memphis, Army, Navy, Tulsa, Tulane, Cincinnati, SMU

MWC1: Air Force, Utah St, New Mexico, Boise, Col St, Wyoming, Baylor, Iowa St
MWC2: San Diego St, Nevada, San Jose, Fresno, Hawaii, UNLV, BYU, Kansas St

MAC1: Bowling Green, Ohio, Akron, Buffalo, Kent St, Miami OH
MAC2: N Illinois, W Michigan, Toledo, Cent Mich, Ball St, E Michigan

CUSA1: W Kentucky, Mid Tennessee, Marshall, Fla Atl, FIU, ODU, UAB, Charlotte
CUSA2: So Miss, LA Tech, Texas SA, Rice, UTEP, N Texas, New Mex St, Ark St

BC, Wake, and Army find a home in the AAC w/ UMass. Baylor, Kansas St, and Iowa St move to MWC w/ BYU. The thinking is trying to keep the teams a little closer to save on travel. Army was added to stay up w/ Navy & Air Force.

Just a little fun...