"It feels good to have the first offer. It really takes stress off my parents; they work really hard and for me to get into college for free if I keep my grades up is taking a big load off of them. I can get my education and then even if football doesn't work out, I can still be successful in my life," he said.
Wallace will be in attendance at this weekend's Nike Football Training Camp, held at his high school, and does plan to camp at a few programs this summer.
"I was supposed to go to Oklahoma State this weekend, but we are going to reschedule before spring football starts. That's all I have planned right now. I know I want to go to Ohio State and probably Oregon this summer, one of those two," he said.
However, the 6-foot-2.5, 220-pound Wallace, a four-star prospect, says that right now, recruiting is on the back of his mind.
"I'm not really paying too much attention to it. I'm still young, I'm only fifteen. I've been talking to Coach and as long as I play every game like it's my last, those offers will come, so I'm not worrying about it," he said.
He's instead looking ahead towards his junior season and the chance to officially lead the Eagles this fall.
"My freshman and sophomore seasons I sat behind Desmon White, and just pick up things that he does and see what I could do better when it was my chance to run the off-season. It was definitely a growing season; it gave me my first taste of real varsity 5A football and getting the pace of the game.
"Now, I'm just really looking forward to the season and trying for the state championship. That's what we've been working for off-season, and that's what we'll be working for in spring football, 7on7, and two-a-days. I hit off-season hard and have been working in track, where I high jump. I'm just trying to get better in the off-season so when the season comes, I'll be ready," he said.
Wallace, who describes himself as an "elusive quarterback", says that he has what it takes to lead his team to a winning season.
"I can make things happen; I can turn nothing into something. That's what I've just really been working on in my game: footwork, pocket passing, reads, throwing the ball, things like that. I'm elusive and I play hard; I never give up and I always see a chance to win. You can win no matter what the score is. That's how I would describe myself," he said.