I'm about to get married in July, and my fiancee and I will both be starting medical school. We are both claimed as dependents by our parents now and we have never really had real jobs (except for summer research) and therefore have never really filed taxes. Since we both will be living completely off of loans in medical school, do we still have to pay taxes? What kind of taxes? I'm planning my budget and I wanted to know how much of our loans we should save to pay taxes. Also, I'm doing my budget, and I'm trying to figure out how much to allocate health insurance and life insurance. Should I just rely on the health insurance through the school (we are both quite healthy and 21 years old)? Can we wait until residency to start paying life insurance?