Recent self-reported and cross-sectional survey evidence documents high levels of mental health problems among PhD students. We study the relationship between PhD studies and mental health care utilization using Swedish administrative records of prescriptions for psychiatric medication for the full population of PhD students. We find that prior to starting their PhD studies, prospective students use psychiatric medication at a rate similar to a matched sample of individuals with a master's degree. However, following the start of their PhD studies, psychiatric medication use among PhD students increases substantially. This upward trend continues throughout the course of PhD studies, and by the fifth year medication use has increased by 40 percent compared to pre-PhD levels. After the fifth year, when most students in our sample graduate, the psychiatric medication use declines notably. Heterogeneity analyses indicate that the increase in medication use occurs broadly across different student subgroups and academic disciplines, with the exception of students in the medical and health sciences.