Nancy Cole was a standout volleyball player at Pasadena Memorial High School, earning first-team all-district honors for three consecutive years and being named the team's MVP twice. As a sophomore, she led her region with 115 blocks, and she later led the Houston area in kills with 500 as a junior and 630 as a senior. Rated the nation's No. 62 volleyball recruit, she was also an all-state selection.

After graduation, Cole was named MVP while leading her Absolute Volleyball Club team to a gold medal in the USAV Junior Olympics. Cole was a four-year starter for the Rice University volleyball team, leading the Owls to an NCAA postseason appearance as a freshman. Arguably, Cole was the first female athlete from Pasadena Memorial to achieve elite status at a Division I school.

During her time at Rice, she was a two-time first-team All-Conference USA selection and a three-time honorable mention All-American. She still ranks in the top 10 in multiple career and single-season statistical categories for the Owls.