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Do you think with a recession tuition prices would go down or schools would be easier to get into?
Does anyone have any kind of data on this? It only makes economic sense
No, as long as the access to the money is available, why would it go down?
Ironically, I would say that schools would be harder to get into. When people lose their jobs, their livelihood, they look at other careers that can provide an income. The good thing about dentistry is that it is "recession proof." When your margins are 30-50%...and the economy tanks, you can take a sizable hit before you are in the red. Imagine if you lose 10-20% of your patient base..ok thats fine...you can sitll meet your bills and work on 10-30% margins. I can technically take a 40% hit on my margins before I am in the red. I have done the math to see the bare minimum to meet rent/loans/liabilities. 40% is like the world is ending recession. Even in the red, I have enough savings to survive 1-2 years without paying myself... So ...dentistry is pretty good. Restaurants work on 5% margins. Any fluctuation there- and you are literally out of business.
No data, but it makes sense right?