A native of Columbus, Ohio, Ray attended high school at Eastmoor Academy. He played college football at the University of Michigan, red-shirting in 1994 before earning varsity letters and wearing jersey #29 in each of the next four seasons (1995–1998). In 1995, Ray started six games at free safety. The following season in 1996, he started all 12 of Michigan's games at strong safety and earned All-Big Ten Conference honors. Ray intercepted three passes and made 100 total tackles on the season, tied for second best on the team with Jarrett Irons behind leader, Sam Sword.