Oklahoma State was one stroke back at 298, and Clemson and Kent State were tied for fourth at 301 on the 7,450-yard Kampen Course at Purdues Birck Boilermaker Golf Complex.
Defending champion Stanford, which last year won its first title since 1994, was tied for 12th at 309.
USCs Tim Sluiter and Kent States David Markle were both one stroke behind Chappell and they were the only players to break par. Three others were at 72.
Southern Cals Jamie Lovemark, the medalist last year, was at 7-over 79.
The tournament runs through Saturday.
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