What percentage of monthly income should be taken up by mortgage and student loan payments, ideally?
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Personally between me and what ever other adults in the household I would never rent or buy a home that cost more than 1/3 the total income of the house.
To stay on solid ground your mortgage and student loan payments should stay below 30% of your take home income.
keep it low and base it on what your income would be if you had to take a lower paying job. What ever you decide on make sure you still have enough savings incase something goes wrong in the future.
Don’t let the sum of your Mortgage & Student loans get higher that 30% of your total earning, or else you get into the danger zone of not being able to return these loans.