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For the 2025-26 school year, there are 3 public schools serving 1,004 students in Milbank, SD (there are , serving 138 private students). 88% of all K-12 students in Milbank, SD are educated in public schools (compared to the SD state average of 91%).

The top ranked public schools in Milbank, SD are Milbank Elementary - 03, Milbank High School - 01 and Milbank Middle School - 02. Overall testing rank is based on a school's combined math and reading proficiency test score ranking.

Milbank, SD public schools have an average math proficiency score of 49% (versus the South Dakota public school average of 43%), and reading proficiency score of 65% (versus the 51% statewide average). Schools in Milbank have an average ranking of 9/10, which is in the top 20% of South Dakota public schools.

Minority enrollment is 19% of the student body (majority Hispanic), which is less than the South Dakota public school average of 33% (majority American Indian).