This was 3.3 percent lower than the state average of 38.9 percent. In 2020 the total municipality population reached 228.
91.7 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Nichols for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 15 | 8.3 |
| Regular high school diploma | 61 | 33.9 |
| GED or alternative credential | 11 | 6.1 |
| Some college, less than 1 year | 11 | 6.1 |
| Some college, 1 or more years, no degree | 18 | 10 |
| Associate's degree | 8 | 4.4 |
| Bachelor's degree | 50 | 27.8 |
| Master's degree | 6 | 3.3 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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