This was 20.1 percent higher than the state average of 43.7 percent. In 2020 the total municipality population reached 8,802.
96.2 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Savoy for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 218 | 3.8 |
| Regular high school diploma | 736 | 12.8 |
| GED or alternative credential | 267 | 4.7 |
| Some college, less than 1 year | 266 | 4.6 |
| Some college, 1 or more years, no degree | 592 | 10.3 |
| Associate's degree | 347 | 6 |
| Bachelor's degree | 1,581 | 27.6 |
| Master's degree | 1,122 | 19.6 |
| Professional school degree | 274 | 4.8 |
| Doctorate degree | 333 | 5.8 |
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