The chances are better than you think. We currently sit 6th in the MAC. The MAC is guaranteed 5 bowl games this year due to other conferences not fulfilling their bowl-eligibility commitments. However, with NIU currently very close to being ranked in the top 15, there is a chance that, if they jump Fresno State in the BCS rankings, that they will go to a BCS bowl, thus bumping us up into that 5th MAC bowl.
So theoretically, if NIU wins convincingly next week, and we can manage to not lose to UMass (I know, it seems like a stretch now), the chances are high that we could get into one of the non-MAC affiliated bowls.
Possibilities that I've heard for bowl locations right now are New Mexico, San Diego, and St. Petersburg.
This highlights the absurdity of being "bowl eligible" at 6-6 or 7-5. I'll support OUr guys if they made it to a bowl game, but the idea of them actually going to a bowl game with a 7-5 record is simply ridiculous. 8 wins is what should be deemed "bowl eligible". Gotta love ESPN TV money.