Az, I did some thinking and looking and found a team, possibly the team, that actually falls within the three parameters of good academics (specifically humanities), a competitive team, and an option offense: Navy.
Navy is listed as a top-15 Liberal Arts school by US News & World Report (take that how you will, some people hate that list it should be noted), they've been to a bowl game 12 out of the last 13 years, and the run a triple option under Ken Niumatalolo, who comes from Paul Johnson's (who now coaches Georgia Tech) coaching tree.
They're called the Midshipmen, they're based in Annapolis, Maryland and they're an associate member of the American Athletic Conference (they refer to themselves as The American) for football (they're a former football independent like Army and they play in the Patriot League for other sports). Navy actually plays in the western division to help with recruiting.
The American is a Group of Five ("G5") league meaning it's not part of the Power 5 (ACC, Big Ten, Big XII, Pac-12, SEC + Notre Dame) but it's still considered major college football. The best G5 team gets a spot in one of the glamorous bowl games.
They're not a bad team at all, in fact they might get to play in a New Year's Six game as the best "G5" team this year if things go their way.