This was 22.3 percent lower than the state average of 43.7 percent. In 2020 the total municipality population reached 473.
97.2 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Spring Bay for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 10 | 2.8 |
| Regular high school diploma | 173 | 48.2 |
| GED or alternative credential | 21 | 5.8 |
| Some college, less than 1 year | 25 | 7 |
| Some college, 1 or more years, no degree | 53 | 14.8 |
| Associate's degree | 34 | 9.5 |
| Bachelor's degree | 42 | 11.7 |
| Master's degree | 0 | 0 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 1 | 0.3 |
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