This was 18 percent lower than the state average of 33 percent. In 2020 the total municipality population reached 507.
86 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Lake for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 44 | 14 |
| Regular high school diploma | 111 | 35.4 |
| GED or alternative credential | 1 | 0.3 |
| Some college, less than 1 year | 14 | 4.5 |
| Some college, 1 or more years, no degree | 97 | 30.9 |
| Associate's degree | 41 | 13.1 |
| Bachelor's degree | 5 | 1.6 |
| Master's degree | 1 | 0.3 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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