Dominant performances from Roman Bravo-Young, Carter Starocci, and Greg Kerkvliet led the Nittany Lions to victory.
Seven pins highlighted the Nittany Lions win against the Chippewas in New Orleans.
The 6'0", 180-pound Wallace selected Penn State over Big Ten rivals Michigan State and Indiana, among others.
Kirk Herbstreit, Chris Fowler, and Holly Rowe will lead the broadcast for the Nittany Lions' showdown against Utah.
McGraw will head to Louisville with three years of eligibility remaining.
With bowl season looming, it appears last season's slew of opt-outs was more of an anomaly than a trend.