This was 10.6 percent higher than the state average of 43.2 percent. In 2020 the total municipality population reached 425.
98.9 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Malcolm for 2020*
| Degree | Number of people | Percentage of population | 
|---|---|---|
| No degree | 3 | 1.1 | 
| Regular high school diploma | 52 | 19.7 | 
| GED or alternative credential | 7 | 2.7 | 
| Some college, less than 1 year | 29 | 11 | 
| Some college, 1 or more years, no degree | 31 | 11.7 | 
| Associate's degree | 58 | 22 | 
| Bachelor's degree | 48 | 18.2 | 
| Master's degree | 32 | 12.1 | 
| Professional school degree | 1 | 0.4 | 
| Doctorate degree | 3 | 1.1 | 

 
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