I stayed at a crashpad for $250/month. A couple guys from my class stayed there as well. You will need transportation, though, because nothing out there is really within walking distance of anything else it seems.

If you can't take your vehicle or won't be carpooling, I would recommend the Staybridge or the Days Inn on Tower for ground school. Sims are in a different location a few miles down the road, so I'm not sure what the hotel shuttle situation is.