As a Realtor, and former mortgage underwriter, I am sorry to say the answer is not so simple. It will depend on your other debt as well. Credit cards, auto payments, student loan payments, etc.
You would need to look at the benefits of an FHA loan v. Conventional. FHA will allow higher debt to income ratios.
What monthly payment are you comfortable with now? How long until you are done with school and working?
As with anything in real estate, there is never a blanket easy answer.
Best of luck,
B. Ranee Bray