Debatable.
They don't have scholarships, but everyone on basketball gets a full ride anyways. Their academic prestige allows them to grab some guys that would play higher.
For the last 15 years they've pretty much always fallen in that 12-18 range for conferences. I think there are really 4 (maybe 5) clear tiers.
1-6 power
6-10 high mids (AAC, MWC A10, WCC)
11-18 true mids (Sun Belt, MVC, CUSA, Ivy, WAC, Southern, Big West, MAC)
19-32 lows (the rest). I'd certainly be open to an argument that the bottom 3 or 4 are their own tier, too. (NEC, SWAC, MEAC, Southland).