| Index | Waterloo | Indiana | National |
| Average Test Scores | 49% | 46% | 48% |
| Student/Teacher ratio | 41:1 | 22:1 | 16:1 |
| Total public schools | 3 | 1,755 | 79,221 |
| Total private schools | n/a | 675 | 24,874 |
| Total post-secondary schools | n/a | 141 | 7,963 |
| Index | Waterloo | Indiana | National |
| Completed 8th grade | 83.0% | 84.6% | 84.3% |
| Completed high school | 82.1% | 82.9% | 83.0% |
| Completed some college | 46.5% | 53.8% | 59.4% |
| Completed associate degree | 21.6% | 33.0% | 38.5% |
| Completed bachelors | 10.8% | 24.6% | 30.3% |
| Completed masters | 4.0% | 8.9% | 11.5% |
| Completed professional degree | 1.4% | 2.4% | 3.3% |
| Completed doctorate | 1.4% | 1.0% | 1.3% |
There are a total of 3 public schools, n/a private schools and n/a post-secondary schools in Waterloo. Using the proficiency score averages, the average test scores for Waterloo, IN schools is 49%. The average student to teacher ratio is 41:1. In Waterloo, IN, an average of 83.0% of students have completed 8th grade and an average of 82.1% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Hicksville, OH | 3,088 | 86% | 78.1% |
| Edon, OH | 878 | 77% | 60.4% |
| Edgerton, OH | 2,175 | 75% | 55.2% |
| Leo-Cedarville, IN | 3,814 | 68% | 40.6% |
| Auburn, IN | 13,209 | 55% | 13.5% |
| Waterloo, IN | 2,217 | 49% | 1.4% |
| City | Population | Avg. Test Scores | National Avg. |
| Eureka, KS | 2,217 | 32% | 33.3% |
| Pulaski, NY | 2,217 | 55% | 13.9% |
| Yale, MI | 2,216 | 58% | 20.8% |
| Gregory, TX | 2,218 | 43% | 11.5% |
| Lathrop, MO | 2,218 | 45% | 5.9% |
| Waterloo, IN | 2,217 | 49% | 1.4% |
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