Ferragamo, heavily recruited as an All-American high school quarterback from Phineas Banning High School, in Wilmington, CA where he was the LA City Schools MVP. Ferragamo began his college career at the University of California, Berkeley. Not wanting to continue a quarterback competition he couldn't win with Cal teammates Joe Roth and Steve Bartkowski, Ferragamo transferred to top-ranked University of Nebraska in 1974. As a Cornhusker, he lettered in 1975 and 1976. During the latter year, the quarterback earned places on the All-Big 8 and All-American squads. He was also named an Academic All American for his studies. Ferragamo capped off his career by leading Nebraska to a victory against Texas Tech in the Astro-Bluebonnet Bowl.