This was 9 percent higher than the state average of 43.2 percent. In 2020 the total municipality population reached 3,941.
98 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Waverly for 2020*
| Degree | Number of people | Percentage of population | 
|---|---|---|
| No degree | 48 | 2 | 
| Regular high school diploma | 530 | 22.1 | 
| GED or alternative credential | 26 | 1.1 | 
| Some college, less than 1 year | 81 | 3.4 | 
| Some college, 1 or more years, no degree | 459 | 19.2 | 
| Associate's degree | 397 | 16.6 | 
| Bachelor's degree | 613 | 25.6 | 
| Master's degree | 187 | 7.8 | 
| Professional school degree | 5 | 0.2 | 
| Doctorate degree | 47 | 2 | 

 
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