Balazs was born to Holocaust survivors in Hungary. Growing up, Balazs' preferred play-thing was plasticine, as it was moldable and can be set into permanent shapes. She also enjoyed entertaining herself with mechanical pencils. She was inspired by her father who was a veterinarian to go into science. Balazs received her B.A. degree with honors in Physics from
Bryn Mawr College in 1975. She received her master's and PhD in Materials Science and Engineering from
Massachusetts Institute of Technology (MIT), Cambridge, MA in 1981. During her Ph.D. she worked with
George M. Whitesides, K.H. Johnson, and
Robert J. Silbey. After her Ph.D., she worked as a postdoctoral researcher at
Brandeis University (1981-1983) in the Chemistry Department with Irving Epstein. She became a research associate at the
University of Massachusetts (1984-1986) in the Polymer Science and Engineering Department with Frank Karasz, William MacKnight, and Isaac Sanchez. ==Research and career==