Chip Rankin was born in Brainerd, Minnesota, but subsequently moved to West Waterloo, Iowa, home of Bob Siddens and Dan Gable. His dad was in the Marines, so the family moved when and where he was stationed. They moved to Little Falls when Chip was in Junior High. Rankin was a three-sport athlete at Little Falls High School, serving as a team captain in Football, Wrestling, and Baseball.

Chip attended Itasca Junior College after graduation, where he played football and wrestled for Hall of Famer Mike Rybak, posting a 60-23 record and was a Junior College State Champ as a sophomore, helping his team to win the Junior College National Wrestling Tournament. From Itasca, Chip went on to UMD and wrestled for Neal Ladston for two years. Chip had one more year of eligibility remaining due to an injury redshirt, but the program was suddenly and inexplicably dropped – a huge disappointment for Chip, along with many of his teammates. Rankin finished up his Biology major and Mathematics Minor and got ready for graduation. Chip was hired to teach Science and coach Football and Wrestling at Litchfield that following year. The Head Wrestling Coach resigned to go into business over Christmas vacation, and the superintendent offered the job to Chip with the stipulation that he also take over as the Head Softball Coach.

Chip spent eight years at Litchfield, with his Wrestling Team taking State Runner-up honors in 2002 and making it to the top step of the podium in 2003. The team went back to State in 2004 with Mike Fiedler at the helm, finishing fifth.

Chip had been deployed to Fallujah, Iraq, where he spent two years as Company Commander for 200+ soldiers, marines, and sailors. Chip came back to take administrative positions at Mora, Bemidji, and the Pequot Lakes, where he served as Principal and Junior High Wrestling Coach. After eight years at Pequot, Chip was again deployed to Afghanistan and later was deployed to East Africa. Chip currently serves as Superintendent (and head wrestling coach) at Minnewaska.