| Index | Panama | Oklahoma | National |
| Average Test Scores | 26% | 32% | 48% |
| Student/Teacher ratio | 21:1 | 22:1 | 16:1 |
| Total public schools | 3 | 1,346 | 79,221 |
| Total private schools | n/a | 159 | 24,874 |
| Total post-secondary schools | n/a | 178 | 7,963 |
| Index | Panama | Oklahoma | National |
| Completed 8th grade | 67.7% | 83.5% | 84.3% |
| Completed high school | 63.7% | 82.2% | 83.0% |
| Completed some college | 27.8% | 55.6% | 59.4% |
| Completed associate degree | 13.6% | 31.9% | 38.5% |
| Completed bachelors | 7.6% | 24.5% | 30.3% |
| Completed masters | 2.8% | 8.1% | 11.5% |
| Completed professional degree | 0.8% | 2.3% | 3.3% |
| Completed doctorate | 0.0% | 1.0% | 1.3% |
There are a total of 3 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, OK schools is 26%. The average student to teacher ratio is 21:1. In Panama, OK, an average of 67.7% of students have completed 8th grade and an average of 63.7% have completed high school.
| City | Population | Avg. Test Scores | National Avg. |
| Hackett, AR | 958 | 43% | 9.9% |
| Arkoma, OK | 1,841 | 37% | 22.2% |
| Bokoshe, OK | 473 | 35% | 27.6% |
| Poteau, OK | 8,866 | 33% | 31.3% |
| Spiro, OK | 2,323 | 30% | 37.8% |
| Panama, OK | 1,401 | 26% | 46.5% |
| City | Population | Avg. Test Scores | National Avg. |
| Greenfield, MO | 1,401 | 42% | 12.5% |
| Wheaton, MN | 1,401 | 62% | 29.2% |
| Arp, TX | 1,402 | 47% | 1.7% |
| Rich Hill, MO | 1,402 | 48% | 0.5% |
| Phoenix, IL | 1,402 | 13% | 72.9% |
| Panama, OK | 1,401 | 26% | 46.5% |
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