| 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 | 440 | 65% | 35.1% |
| Bennet, NE | 1,123 | 65% | 34.4% |
| Adams, NE | 574 | 62% | 29.2% |
| Sterling, NE | 513 | 58% | 19.8% |
| Palmyra, NE | 688 | 57% | 18.8% |
| Panama, NE | 253 | n/a |
| City | Population | Avg. Test Scores | National Avg. |
| Lead Hill, AR | 253 | 41% | 15.1% |
| Tappen, ND | 253 | 50% | 4.2% |
| Lowgap, NC | 253 | 45% | 7.3% |
| Benton, CA | 253 | 50% | 4.2% |
| Prairie Home, MO | 252 | 40% | 16.7% |
| Panama, NE | 253 | n/a |