I didn't really notice this until today, but he trails Bryce Petty in Total Offense YPG by 2.1 yards per game (302.4 to 300.3).
If we're talking about pure conference play, Waters has averaged 318.6 YPG to Petty's 301.9.
Jake is #1 in the Big 12 (in conference play) for total yards per play at any position. He's averaging 7.82 YPP. Boykin averages 6.99. When factoring in all games, he's still #1 ahead of Petty, Knight, Boykin, etc.
If factoring in conference play only (to keep it fair for Petty who missed a game), Waters is #2 in Total Offense behind Boykin. He leads Petty by 134 yards.
I think you could argue, if KSU wins on Saturday, that he's probably 2nd Team All-Big 12 QB ahead of Petty, based on stats.