This was 30.4 percent lower than the state average of 38.1 percent. In 2020 the total municipality population reached 2,489.
84.8 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Shepherd for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 231 | 15.2 |
| Regular high school diploma | 554 | 36.4 |
| GED or alternative credential | 151 | 9.9 |
| Some college, less than 1 year | 77 | 5.1 |
| Some college, 1 or more years, no degree | 394 | 25.9 |
| Associate's degree | 28 | 1.8 |
| Bachelor's degree | 74 | 4.9 |
| Master's degree | 4 | 0.3 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 11 | 0.7 |
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