Brown (4-3, 1-3) led 17-14 after Cody Taulbee ran one in from 1 yard out with 3:37 left to play.
However, Dexter Davis returned the ensuing kickoff 46 yards and Ragone completed two passes for 15 yards, then ran for another 6 to set up Loftus' game-tying field goal.
Ragone finished with 165 passing yards and 46 rushing yards.
The Bears took over with 2:12 remaining but Trevor Neimann picked off Patrick Donnelly's third pass of the possession, giving the Quakers (3-4, 3-1) the ball on the Brown 44.
Ragone then ran for 17 yards on two carries and completed a 2-yard pass to Eric Fiore to set up Loftus' game-winning 35-yard field goal.
Donnelly completed 30 of 47 passes but threw four interceptions.
Less than four months removed from his transfer to Florida State, Everett Golson has been named the Seminoles' starting quarterback.
After hinting at it for more than a week, LSU coach Les Miles confirmed Monday that Brandon Harris will start at quarterback in Saturday's opener against McNeese State.
A final decision in Ohio State's quarterback derby won't be revealed until just before the season kicks off, but Urban Meyer isn't ruling out playing both his decorated candidates.
With less than a week to go before the season opener, No. 9 Georgia finally has a starting quarterback. Coach Mark Richt announced Monday that Greyson Lambert had won the starting job.
Sales of beer with Joe Paterno's name on it are so brisk that the company that makes it is gearing up for a second run after just a week on the shelves.
Baylor coach Art Briles said Monday his fourth-ranked Bears have not been distracted by the swirling controversy surrounding the program's handling of former defensive end Sam Ukwuachu.