I had the same problem with HPSP. I was DQ'd due to 10 mg/night of celexa that I take for test anxiety, so I feel your pain there. The good news is unless you have an awful credit history, you can get the HPLV loan on your own that is about 7.25% + LIBOR right now. As stated above, if you have someone with good income/credit who is willing to cosign, you can get much better rates. Remember though, it is a variable rate loan so the rate you start with will likely not be the rate you end with. In the last 25 years, LIBOR has been in excess of 11% at times (though brief periods of time, this is still scary to me).
The best thing to do is to pay the loan off as soon as possible. I plan to live very simply the first 5 years I'm an attending and put a large percentage of my income to the loan. Also, though it is not the case currently, historically there have been times when refinancing was an option... here's hoping that will be an option when the time comes for me!

I still love the school and feel it's worth it. If the school is a good enough fit for you, I believe it will be worth it to you as well.