Looks like a Wald aftermarket rack from the 60s. Not an OG schwinn part, but certainly from the same general time period. If the bike was equipped with a rack it would probably have been a 9 hole rack.
Thanks for the reply! I thought it might not be. Its a 1965 Wasp, if that makes any difference. I have a very nice rack I pulled of a 67 Fleet that I was eyeballin for this. Not that I'm big on correctness, but if the nicer rack is right, why not.