| Index | Panama | New York | National |
| Average Test Scores | 70% | 56% | 48% |
| Student/Teacher ratio | n/a | n/a | 16:1 |
| Total public schools | n/a | 4,060 | 79,221 |
| Total private schools | n/a | 1,092 | 24,874 |
| Total post-secondary schools | n/a | 483 | 7,963 |
| Index | Panama | New York | National |
| Completed 8th grade | 90.9% | 83.5% | 84.3% |
| Completed high school | 87.2% | 82.1% | 83.0% |
| Completed some college | 50.0% | 59.5% | 59.4% |
| Completed associate degree | 33.1% | 43.4% | 38.5% |
| Completed bachelors | 16.2% | 34.7% | 30.3% |
| Completed masters | 6.1% | 15.1% | 11.5% |
| Completed professional degree | 0.0% | 4.2% | 3.3% |
| Completed doctorate | 0.0% | 1.5% | 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, NY schools is 70%. The average student to teacher ratio is n/a. In Panama, NY, an average of 90.9% of students have completed 8th grade and an average of 87.2% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Sherman, NY | 574 | 71% | 47.4% |
| Bemus Point, NY | 235 | 60% | 24.0% |
| Mayville, NY | 1,436 | 57% | 18.8% |
| Corry, PA | 6,285 | 57% | 18.4% |
| Youngsville, PA | 1,711 | 51% | 6.8% |
| Panama, NY | 409 | 70% | 44.8% |
| City | Population | Avg. Test Scores | National Avg. |
| Green Lane, PA | 409 | 70% | 45.8% |
| Pleasanton, NE | 410 | 45% | 6.8% |
| Newfolden, MN | 410 | 53% | 10.9% |
| Carlos, MN | 410 | 62% | 29.2% |
| Caroga Lake, NY | 410 | 37% | 22.9% |
| Panama, NY | 409 | 70% | 44.8% |
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