Yeah, that sounds like a good plan. You may also want to check out the financial aid forum on Sdn. I've learned a lot about different loan repayment plans/PSLF and evaluating the pros and cons. I'm graduating pretty soon, so I've freaked myself out with repayment plans/financial planning/deferment/military/etc.
The big pieces of advice I can give you is to live frugally (believe me, it's harder than it seems when you're stressed out and desiring shop therapy), and don't even think about forbearing your loans during residency (that's when you put your loans off -- allowing interest to accrue and put you further into debt).
You also may want to google scholarships that are available (or talk with your financial aid office), but from what i saw they're very specific (for example: one required that you grew up in New Jersey and planning to go into anesthesia), and they probably won't put that much of a dent in your debt (they were from $500 to ~$2000 but still better than nothing). Sure, there may be larger ones, but I sure haven't heard of them. There are some school-specific scholarships and grants you may be eligible for (so make sure you negotiate accordingly).
Good luck! And congrats on getting into med school!
