| Index | Elwood | Nebraska | National |
| Average Test Scores | 53% | 53% | 48% |
| Student/Teacher ratio | n/a | 13:1 | 16:1 |
| Total public schools | n/a | 780 | 79,221 |
| Total private schools | n/a | 182 | 24,874 |
| Total post-secondary schools | n/a | 56 | 7,963 |
| Index | Elwood | Nebraska | National |
| Completed 8th grade | 93.1% | 88.4% | 84.3% |
| Completed high school | 91.7% | 87.2% | 83.0% |
| Completed some college | 54.2% | 63.7% | 59.4% |
| Completed associate degree | 30.6% | 40.1% | 38.5% |
| Completed bachelors | 21.0% | 30.0% | 30.3% |
| Completed masters | 5.0% | 9.9% | 11.5% |
| Completed professional degree | 0.4% | 2.9% | 3.3% |
| Completed doctorate | 0.0% | 1.2% | 1.3% |
There are a total of n/a public schools, n/a private schools and n/a post-secondary schools in Elwood. Using the proficiency score averages, the average test scores for Elwood, NE schools is 53%. The average student to teacher ratio is n/a. In Elwood, NE, an average of 93.1% of students have completed 8th grade and an average of 91.7% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Eustis, NE | 502 | 45% | 6.3% |
| Bertrand, NE | 741 | 42% | 12.0% |
| Lexington, NE | 10,069 | 38% | 21.3% |
| Elwood, NE | 674 | 53% | 9.4% |
| City | Population | Avg. Test Scores | National Avg. |
| Liberal, MO | 674 | 31% | 34.7% |
| Conneaut Lake, PA | 674 | 52% | 7.3% |
| Brandon, MN | 674 | 64% | 33.3% |
| Alpha, IL | 674 | 27% | 43.8% |
| Calhoun, TN | 674 | 46% | 5.2% |
| Elwood, NE | 674 | 53% | 9.4% |
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