| Index | Waterman | Illinois | National |
| Average Test Scores | 35% | 33% | 48% |
| Student/Teacher ratio | 17:1 | 18:1 | 16:1 |
| Total public schools | 2 | 3,938 | 79,221 |
| Total private schools | n/a | 1,438 | 24,874 |
| Total post-secondary schools | n/a | 306 | 7,963 |
| Index | Waterman | Illinois | National |
| Completed 8th grade | 93.9% | 86.2% | 84.3% |
| Completed high school | 92.5% | 84.7% | 83.0% |
| Completed some college | 61.3% | 61.8% | 59.4% |
| Completed associate degree | 31.5% | 40.7% | 38.5% |
| Completed bachelors | 18.2% | 32.9% | 30.3% |
| Completed masters | 3.7% | 12.7% | 11.5% |
| Completed professional degree | 1.1% | 3.4% | 3.3% |
| Completed doctorate | 0.3% | 1.2% | 1.3% |
There are a total of 2 public schools, n/a private schools and n/a post-secondary schools in Waterman. Using the proficiency score averages, the average test scores for Waterman, IL schools is 35%. The average student to teacher ratio is 17:1. In Waterman, IL, an average of 93.9% of students have completed 8th grade and an average of 92.5% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Big Rock, IL | 1,271 | 55% | 13.5% |
| Millbrook, IL | 357 | 52% | 8.3% |
| Maple Park, IL | 1,599 | 50% | 4.7% |
| Hinckley, IL | 2,190 | 46% | 4.2% |
| Somonauk, IL | 2,027 | 46% | 5.2% |
| Waterman, IL | 1,738 | 35% | 28.1% |
| City | Population | Avg. Test Scores | National Avg. |
| Haubstadt, IN | 1,738 | 61% | 27.1% |
| Sparta, GA | 1,737 | 15% | 69.4% |
| Morris, OK | 1,739 | 35% | 27.1% |
| Lac du Flambeau, WI | 1,737 | 18% | 63.5% |
| Winlock, WA | 1,740 | 39% | 18.5% |
| Waterman, IL | 1,738 | 35% | 28.1% |
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