Falcón attended Public School 17 in Williamsburg, where his first grade teacher unilaterally changed his name to "Angelo" from "Angel," thinking it was a typo. He went on to attend the citywide specialized Brooklyn Technical High School (1965–1969) in Ft. Greene, Brooklyn, where he graduated with a specialization in architecture. In high school, he joined with other Puerto Rican and Latino students to organize the "El Nuevo Mundo" Aspira Club, which began his involvement in community affairs. He went on to attend Columbia College of Columbia University (Class of 1973) where he continued his activism as Chair of the Latin American Student Organization (LASO) and helping to establish the first HEOP, or Higher Education Opportunity Program, at the college. In 1976, he attended the State University of New York at Albany, where he did his graduate work in political science. He completed a master of science degree and most requirements for his doctorate, returning to New York City as an ABD (all but dissertation) in 1980 to write his dissertation. He was awarded the Nelson A. Rockefeller Distinguished Alumni Award from the SUNY-Albany in 1983.