FORT WORTH -- When SMU started its 2025 season and nonconference schedule, it saw opportunity ahead.

The Mustangs were ranked No. 16 in the nation. They faced two tune-up opponents in East Texas A&M and Missouri State and two potential resume-builders against Baylor and TCU. A 4-0 record could've placed them firmly in the top 25 -- or even top 10 -- with a possible path back to the College Football Playoff.

All of those possibilities, though, were before SMU played its first snap of the season.

Four weeks later, the Mustangs sit at 2-2. They've already lost more games than they did last regular season. They've lost multiple starters to injuries while having others continue to play through them. They've blown two fourth-quarter leads to in-state rivals. And they handed the Iron Skillet back to TCU, possibly for good, after a 35-24 loss at Amon G. Carter Stadium Saturday.

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"It's two games this year where we've gotten the lead in the fourth quarter, and they made the plays down the stretch, and we didn't," SMU head coach Rhett Lashlee said.

SMU's many paths back to the postseason have vanished. Now, SMU has just one remaining: win the ACC.

Since making the jump to a power conference, SMU has learned scheduling can be tricky. A lack of competitive opponents nearly robbed the Mustangs of their spot in the College Football Playoff a year ago. They've been the ones adamant about the century-old series with TCU getting renewed.

But those nonconference, power conference games are only beneficial if you win them. A loss or two can make a team's ultimate postseason goals seem out of reach in September.

A year ago, SMU set itself up this time of year so no matter what happened in Charlotte in December, it had a chance to secure its first College Football Playoff berth. But now, the Mustangs have to be near perfect just to get back to that game where the result would determine their postseason fate.

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"We're disappointed that we're sitting where we are," Lashlee said. "But I'll tell you this: I'm not disappointed in our players one bit."

SMU may have played better in its two games against Big 12 opponents than it did against East Texas A&M and Missouri State. Its offense did, at least.

The Mustangs managed to take fourth quarter leads against both TCU and Baylor. But just as Sawyer Robertson did two weeks ago, Josh Hoover and the Horned Frogs offense performed better in the last 10 minutes of play. Two of wide receiver Eric McAlister's three touchdowns in the day came in that stretch and put the game out of reach for SMU.

"They won the bookends -- the start and the finish -- and that's why we lost," Lashlee said.

SMU showed it's lacking some key traits last year's team had: an elite defense and the ability to be opportunistic.

Scott Symons' 2024 defense was the best in the ACC and produced NFL-caliber players like Elijah Roberts and Jared Harrison-Hunte. This year's, which had to replace all but one starter, has been inconsistent and ineffective against both skilled offenses it faced.

Last year's team also won games that it shouldn't have. It went down to the wire against teams like Duke and Louisville, but walked away with the win almost every time. When this year's team has found itself in close games, it hasn't been able to finish.

"It is a lot of 'almosts', but we can definitely do better so that doesn't happen," defensive lineman Cam Robertson said.

SMU still has the majority of its season left to make improvements. The ACC still appears to be wide open, especially as preseason favorite Clemson continues to show it was overrated in the first poll.

But the Mustangs know there's only one path remaining. Another misstep could mean the Pop-Tarts Bowl or Duke's Mayo Bowl, at best.

"We're gonna lose some," SMU quarterback Kevin Jennings said. "We're gonna win some. It's about how you respond the following weeks. We've got ACC play in front of us. All that matters is we go win all of them games right there. We put all of this behind us. It's about how we finish."

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SMU left with narrow path back to College Football Playoff after loss to TCU