STATE COLLEGE, Pa. — Billions of dollars can buy a lot of things. It can help revive a football program and get your alma mater into a bigger conference. It can buy a private jet. But it can’t clear more space at a tiny regional airport.

SMU donor Bill Armstrong’s last name is on the team’s indoor practice facility. His plane, which included two-time U.S. Open champion golfer Bryson DeChambeau and former Mustangs star running back Craig James, left Dallas around 6:30 a.m. CT for State College, Pa. But upon arrival, it was diverted to Williamsport, as were some other SMU private planes. The airport was full.

If you believe in harbingers, this was an ominous one, the limits of SMU’s money on display. From a party bus on the drive to the stadium, several SMU donors and former players watched on their phones as quarterback Kevin Jennings threw two pick sixes. By the time they arrived at Beaver Stadium, the score was 21-0, the game all but over.

“Still a great season,” Armstrong said after the game, pulling gloves out of his pocket and refusing to get too down. To him, there was no doubt that the 11-win Mustangs belonged here.

The final score was 38-10. As the last at-large team in the field, the discourse over College Football Playoff blowouts and selection committee decisions turned to SMU, one day after Indiana was manhandled by Notre Dame.

On display at Penn State was the difference between being a CFP darling, a fun story, and a CFP contender. It’s a gap so often exposed at this stage of the season.

“We didn’t play well enough to say anything that isn’t going to be written,” head coach Rhett Lashlee said. “It’ll be written, should we be in or did we belong? That’s fine. You’re welcome to write it. We didn’t play good today. But this is a quality team. We had a good team. We deserve to be here. We earned the right to be here. I’m disappointed we didn’t play to the level that validates that.”

What’s too bad is SMU didn’t even give itself a chance. Before kickoff, Lashlee told the broadcast his team had to avoid a bad start like it’d had in the ACC Championship Game against Clemson, when Jennings had two bad turnovers.

What happened this time? First, Jennings missed a wide-open Matthew Hibner in the end zone on what should’ve been a fourth-down touchdown to cap SMU’s opening drive. On the second drive, Jennings threw a pick six, missing a short throw out of the backfield. On the fourth drive, Jennings threw another pick six, a desperate attempt to make a play on third down instead of throwing the ball away.

SMU was down 14-0 despite playing pretty well otherwise and holding up in the trenches. The defense to that point had been stout.

“That kind of shell-shocked us a little bit,” Lashlee said of the turnover scores.

Jennings has been turnover-prone. He had five against Duke, but the Mustangs rallied to win that one. SMU also rallied from his two turnovers against Clemson to tie things up late. But Penn State is another level up in competition.

“We don’t have an Abdul Carter,” Lashlee said, referring to Penn State’s All-America edge rusher who was in the backfield constantly and did more than his two tackles for loss indicate, constantly sending Jennings out of the pocket. Penn State’s defense finished with 11 tackles for loss.

For his part, Jennings said his early miss in the end zone didn’t linger in his head and lead to the interceptions. Lashlee blamed the second quarter tipped red zone interception on himself, saying he should’ve just called a running play. Jennings blamed himself.

“I made mistakes three times and gave them the ball with careless mistakes,” the typically quiet Jennings said. “I didn’t take care of the ball.”

Asked if he considered replacing Jennings with backup Preston Stone, Lashlee didn’t indicate it ever came up until the fourth quarter. Stone, who was the Mustangs’ starting quarterback last year and at the beginning of this year, entered the transfer portal earlier this month but had stayed with the SMU team. When Lashlee pulled Jennings late, everyone decided they didn’t want Stone to get hurt on his way out at that point in the game, the coach said. After the final horn sounded, multiple reports emerged that Stone was heading to Northwestern.

A 38-10 game is not close, nor is it competitive. Penn State was clearly the better team, one that will be favored to win the Fiesta Bowl against No. 3 seed Boise State. But SMU finished with more first downs and held PSU to 5.0 yards per play, though the amount of garbage time certainly factored into those respectable stats.

SMU scored just three points on four red zone trips and gave away 14 points on the interception return touchdowns. It’s why Lashlee was so frustrated. He knows how it looks. He can’t argue otherwise.

“People are going to see 38-10 or (28-0 at) halftime and say they don’t belong, but the two pick sixes and we had our opportunities,” he said. “We don’t have anybody to blame but ourselves. It should’ve been a good defensive struggle in the 20s. We didn’t do that.”

SMU long felt that if it just got a power conference invitation, it would show it belonged. The Mustangs showed they belonged in the ACC, going 8-0 in conference play. But they didn’t show they’re ready for this stage yet. Nittany Lions coach James Franklin takes a lot of heat from fans and detractors for not winning the big games, but he almost always wins the games in which Penn State has more talent.

Underdog stories typically end with a thud in the CFP, and SMU and Indiana join a list that includes Cincinnati, TCU and others. Top-level talent wins in the end, and SMU doesn’t have that yet.

Lashlee and SMU will spend the ensuing months hearing those that say SMU shouldn’t have been in the CFP, that Alabama deserved the spot (even though Crimson Tide quarterback Jalen Milroe’s three-interception performance in a 21-point loss to 6-6 Oklahoma in mid-November was nearly exactly the same as Jennings’ at Penn State). That’s what comes with this stage.

SMU found itself here for the first time and didn’t deliver. As the party bus headed back to Williamsport and the private planes flew back to Dallas, SMU’s coaches, players and billionaires left with a clear vision of just how far they still have to go.

(Photo: Mitchell Leff / Getty Images)