Here is an excerpt from Wikipedia explaining the 7/6 win scenario:
Occasionally there will be more bowl eligible teams than there are spots in the NCAA football bowl games in the season. In these cases, some bowl eligible teams will not be invited to play in any NCAA football bowl game. Two NCAA rules combine to make it unlikely, though possible, that a team with seven wins will be left out of a bowl game:
Bowl games that have a contract with a conference must select a team with at least seven wins if one is available.
Any bowl berths not already filled by contract must be filled by a team with seven wins before any spare 6-6 team can be accommodated
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