Record: 53-50, .515 W-L% (7th of 12) (Schedule and Results)
SRS: -1.95 (7th of 12) ▪ SOS: -2.16 (8th of 12)
Conference Champion: Louisville
Ranked in Preseason AP Poll: 1 (Southern Mississippi)
Ranked in Final AP Poll: 0
| Rushing | Receiving | Scrimmage | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rk | Player | School | Att | Yds | Avg | TD | Rec | Yds | Avg | TD | Plays | Yds | Avg | TD |
| 1 | Michael Wallace | Army | 192 | 1157 | 6.0 | 11 | 24 | 187 | 7.8 | 1 | 216 | 1344 | 6.2 | 12 |
| 2 | Leonard Henry | East Carolina | 133 | 711 | 5.3 | 8 | 18 | 137 | 7.6 | 1 | 151 | 848 | 5.6 | 9 |
| 3 | Mewelde Moore | Tulane | 174 | 890 | 5.1 | 2 | 33 | 350 | 10.6 | 1 | 207 | 1240 | 6.0 | 3 |
| 4 | Jegil Dugger | Alabama-Birmingham | 177 | 852 | 4.8 | 5 | 8 | 34 | 4.3 | 0 | 185 | 886 | 4.8 | 5 |
| 5 | Tony Stallings | Louisville | 181 | 810 | 4.5 | 6 | 21 | 156 | 7.4 | 3 | 202 | 966 | 4.8 | 9 |
| 6 | Dawayne Woods | Southern Mississippi | 146 | 631 | 4.3 | 7 | 15 | 150 | 10.0 | 3 | 161 | 781 | 4.9 | 10 |
| 7 | Demarco McCleskey | Cincinnati | 121 | 500 | 4.1 | 4 | 8 | 74 | 9.3 | 2 | 129 | 574 | 4.4 | 6 |
| 8 | Ray Jackson | Cincinnati | 201 | 808 | 4.0 | 6 | 7 | 127 | 18.1 | 2 | 208 | 935 | 4.5 | 8 |
| 9 | Jeff Sanders | Memphis | 167 | 646 | 3.9 | 4 | 6 | 48 | 8.0 | 0 | 173 | 694 | 4.0 | 4 |
| 10 | Joffrey Reynolds | Houston | 136 | 534 | 3.9 | 5 | 24 | 193 | 8.0 | 0 | 160 | 727 | 4.5 | 5 |
| 11 | Leif Penn | Houston | 94 | 348 | 3.7 | 3 | 5 | 22 | 4.4 | 0 | 99 | 370 | 3.7 | 3 |
| 12 | Jamie Wilson | East Carolina | 82 | 305 | 3.7 | 3 | 9 | 85 | 9.4 | 1 | 91 | 390 | 4.3 | 4 |
| 13 | Alton McCallum | Army | 74 | 231 | 3.1 | 3 | 5 | 12 | 2.4 | 0 | 79 | 243 | 3.1 | 3 |
| 14 | David Garrard | East Carolina | 135 | 358 | 2.7 | 5 | 0 | 0 | 0 | 135 | 358 | 2.7 | 5 | |
| 15 | Dave Ragone | Louisville | 101 | 252 | 2.5 | 6 | 1 | 0 | 0.0 | 0 | 102 | 252 | 2.5 | 6 |
| 16 | Jeff Kelly | Southern Mississippi | 148 | 54 | 0.4 | 4 | 0 | 0 | 0 | 148 | 54 | 0.4 | 4 | |
| 17 | Jason McKinley | Houston | 73 | -131 | -1.8 | 1 | 0 | 0 | 0 | 73 | -131 | -1.8 | 1 | |