A co-op is a type of housing that is owned and managed by its members, usually people who live there. It is often cheaper than living in a dorm or apartment, but you will need to help with chores or cooking at the house. Here is a list of co-ops that are close to the school:
ICC Co ops
$6347 - 9 months
$5157 - $6876 - 9 months
$550 - $660/month
A hostel is a good choice for students that want to study for a short time. The hostel in Austin offers cheap housing in a shared room. Prices are from $19-$52 a night.
Hostelling International Austin