Increasingly, the price of professional school is seen as a potential deterrent for interested students. Data collected by the American Dental Association (ADA) from the 66 U.S. dental schools showed the average 4‐year nonresident tuition and fees totaled $321,575 in 2018–2019, 35% greater than in 2008–2009, after adjusting for inflation. The aim of this study was to assess whether dental education pricing has impacted applications, enrollments, and yield rates, particularly among students underrepresented in dentistry. Utilizing 7 years of ADA data across all 66 U.S. dental schools, OLS regression, fixed effects, and random effects models were used to examine the data in both cross‐sectional and longitudinal analyses. OLS regression results show higher priced schools have higher rates of applications, admittances, and enrollment but lower yield rates. The inverse relationship between yield and tuition prices suggests, on average, students are sensitive to price when deciding whether to accept a spot at dental schools. Focusing on students underrepresented in dentistry, the results indicate that African American and Hispanic or Latino students are price sensitive: fewer of these students enroll in higher priced dental schools, and the relationship persists over time. In other words, fewer African American and Hispanic or Latino students enroll in U.S. dental schools as tuition increases over time. The salary potential is high for dental graduates, but social and cultural capital are significant factors in making students aware of a dental career. These findings suggest the breadth and scope of pipeline programs need to be enhanced to reach these potential students.