You guys (Concordia and McGill ones) can try for Hostelling International Youth Hostel for Temprary Logement : www.hostellingmontreal.com
Here is another link for more hostels in Montreal : http://www.hostelworld.com/hostels/Montreal/Canada/Map If you can afford it, try for some low cost hotels too but Hostels are best IMO. HI Montreal has a starter package for newcomers for $299 for a week with some things live a travel card, breakfast, internet access and a calling card of $10 credit included with a 6 bed shared dorm. You can also search for other BnB offerings on the web which fit your bill.