hey. biking from center city to east falls takes about 20 minutes. by the river is really pleasant to ride, but there's a killer hill to get up to the med school. when i was there (last year), drexel had a free hourly shuttle going from the hahnemann campus in cc to east falls. it took about 30 minutes or so.
i lived in the carlton park apartments across from the med school. the management was very nice. i would, however, suggest getting a second floor aparment, as burglaries can happen (my downstairs neighbor got robbed a few times). The area around the med school, like most of philly, is weird in that there are pockets of really nice and more pockets of not-so-nice. Lots of folks lived in Roxboro, which is one or two septa stops up the line. Chestnut hill is further away, and probably much higher rent wise but a very nice neighborhood. Mt Airy is quite diverse and also a nice place. Manyunk is where the cool and trendy kids live. Can i use the word nice one more time? thanks.
i'll stop for now, but if you want more info let me know.