| Index | Panama | Illinois | National |
| Average Test Scores | n/a | 33% | 48% |
| Student/Teacher ratio | n/a | 18:1 | 16:1 |
| Total public schools | n/a | 3,938 | 79,221 |
| Total private schools | n/a | 1,438 | 24,874 |
| Total post-secondary schools | n/a | 306 | 7,963 |
| Index | Panama | Illinois | National |
| Completed 8th grade | 86.6% | 86.2% | 84.3% |
| Completed high school | 85.5% | 84.7% | 83.0% |
| Completed some college | 43.0% | 61.8% | 59.4% |
| Completed associate degree | 18.8% | 40.7% | 38.5% |
| Completed bachelors | 2.7% | 32.9% | 30.3% |
| Completed masters | 0.0% | 12.7% | 11.5% |
| Completed professional degree | 0.0% | 3.4% | 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 Panama. Using the proficiency score averages, the average test scores for Panama, IL schools is n/a. The average student to teacher ratio is n/a. In Panama, IL, an average of 86.6% of students have completed 8th grade and an average of 85.5% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Alhambra, IL | 676 | 55% | 14.6% |
| Pocahontas, IL | 797 | 47% | 2.1% |
| Sorento, IL | 499 | 37% | 22.9% |
| Greenville, IL | 6,725 | 36% | 26.0% |
| Mount Olive, IL | 2,052 | 34% | 30.2% |
| Panama, IL | 221 | n/a |
| City | Population | Avg. Test Scores | National Avg. |
| South Salem, OH | 221 | 70% | 44.8% |
| Okreek, SD | 221 | 20% | 58.3% |
| Jeddito, AZ | 221 | 10% | 79.2% |
| Goshen, AL | 222 | 37% | 22.9% |
| Elbert, CO | 220 | 24% | 50.5% |
| Panama, IL | 221 | n/a |
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