| Index | Panama | Nebraska | National |
| Average Test Scores | n/a | 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 | Panama | Nebraska | National |
| Completed 8th grade | 94.7% | 88.4% | 84.3% |
| Completed high school | 94.7% | 87.2% | 83.0% |
| Completed some college | 64.7% | 63.7% | 59.4% |
| Completed associate degree | 34.2% | 40.1% | 38.5% |
| Completed bachelors | 22.1% | 30.0% | 30.3% |
| Completed masters | 10.5% | 9.9% | 11.5% |
| Completed professional degree | 2.1% | 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 Panama. Using the proficiency score averages, the average test scores for Panama, NE schools is n/a. The average student to teacher ratio is n/a. In Panama, NE, an average of 94.7% of students have completed 8th grade and an average of 94.7% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Firth, NE | 424 | 65% | 35.1% |
| Bennet, NE | 1,088 | 65% | 34.4% |
| Adams, NE | 556 | 62% | 29.2% |
| Sterling, NE | 502 | 58% | 19.8% |
| Palmyra, NE | 670 | 57% | 18.8% |
| Panama, NE | 248 | n/a |
| City | Population | Avg. Test Scores | National Avg. |
| Westside, IA | 248 | 69% | 42.7% |
| Dadeville, MO | 248 | 65% | 35.4% |
| Midvale, ID | 248 | 42% | 12.5% |
| Hamilton, MS | 248 | 56% | 15.6% |
| Clyde Park, MT | 248 | 55% | 14.6% |
| Panama, NE | 248 | n/a |
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