Scott was born on July 10, 1966 in Northampton, Massachusetts. Both of his parents were professors. His mother, Joan Wallach Scott, is the Harold F. Linder Professor at the School of Social Science in the Institute for Advanced Study in Princeton, New Jersey. His father, Donald Scott, is a professor of American history at the City University of New York. He is a great nephew of the married acting couple Eli Wallach and Anne Jackson (his maternal grandfather was Eli's brother). Scott is Jewish through his mother's side. Scott attended public schools in Providence, Rhode Island, including Classical High School. He graduated magna cum laude from Harvard in 1988 with a degree in literature.