Davis entered the world of education funding after twenty-five years in the capital markets trading business. In 2006, he was appointed to the Board of the Illinois Student Assistance Commission (ISAC). He was chosen by ISAC’s Commissioners to be ISAC’s Executive Director a year later, on the eve of what became the 2007-2009 financial crisis. Previously, the Commission had had national ambitions, but Davis acted quickly to focus exclusively on aiding Illinois students. Down-sizing ISAC’s $5 billion loan portfolio to aid only Illinois students and schools earned Illinois tax-payers over
$200 million dollars. Throughout the crisis, ISAC was able to continue supporting Illinois students, while other states were unable to fund their students.
While at ISAC Davis, in cooperation with CPS’s Department of College and Career Preparation, created an initiative to increase the rate of Free Application for Federal Student Aid (FAFSA) completions by CPS students. This pilot program with CPS took the rate of completion from 50% to over 80%. The program was then rolled out statewide and now is available in all fifty states. Under Davis’s leadership ISAC also started the Illinois Student Assistance Corps (ISACorps), a statewide network of near-peer advocates who help high school students make well-informed plans to apply and fund their college educations.