This was 6.6 percent lower than the state average of 44.8 percent. In 2020 the total municipality population reached 1,256.
93.9 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Velva for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 51 | 6.1 |
| Regular high school diploma | 226 | 26.8 |
| GED or alternative credential | 64 | 7.6 |
| Some college, less than 1 year | 63 | 7.5 |
| Some college, 1 or more years, no degree | 116 | 13.8 |
| Associate's degree | 145 | 17.2 |
| Bachelor's degree | 141 | 16.7 |
| Master's degree | 30 | 3.6 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 6 | 0.7 |

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