This was 24.6 percent lower than the state average of 41.8 percent. In 2020 the total municipality population reached 225.
79.1 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 | 34 | 20.9 |
| Regular high school diploma | 62 | 38 |
| GED or alternative credential | 14 | 8.6 |
| Some college, less than 1 year | 5 | 3.1 |
| Some college, 1 or more years, no degree | 20 | 12.3 |
| Associate's degree | 17 | 10.4 |
| Bachelor's degree | 8 | 4.9 |
| Master's degree | 3 | 1.8 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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