Jacobs will join Hunter Nourzad, who was a fifth-round selection, with the Chiefs.
A poor showing against Ohio State started a downward trend for the once-first-round projection.
Hardy became the seventh Penn State defensive back to hear his name called.
Penn State will play Maryland in the next round in Columbus.
Nourzad was the second Penn State center drafted in the last two years.
Penn State fought to secure the last-minute win and move on to the semifinals.