Ninety-six first- and second-year students (97 percent) at the University of Minnesota, Duluth, School of Medicine responded to a questionnaire on their career choices and and their perceptions of changes in the organization and financing of medical care. Their responses indicated a great deal of student concern regarding the future of medical practice. Overall, the students were the most concerned about a perceived loss of practice autonomy and inadequate financial rewards. In the face of these perceptions, the students reported changes in career preferences: From smaller to larger communities, from solo or partnership arrangements to group practice settings, and from generalist to specialist practices. A student’s anticipated debt level was the most important predictor of whether the student changed career goals.