USC does promise to meet 100% of a student’s need-based costs, but that will often include loans. For me, USC met all of my tuition-related expenses, but did not cover room/board. Also, as I was uninsured, I did need to take out some loans to pay for the student insurance. I live about 8 miles away from USC, so rather than take out loans just to live on-campus, I chose to commute.
In short, USC can very well cover all of your educational-related expenses depending on your parent’s income. However, if they make too much, they will offer loans that cover the remaining cost (such as the Parent PLUS loan that allows your parents to borrow whatever is needed - up to the cost of attendance). I’ve rarely, if ever, seen USC cover housing expenses with financial aid.
“Scholarships awarded may only be used to replace University tuition costs and may not be used to cover housing, books, fees, or meal plans.”
^This is from a scholarship page on the Dornsife site, so it seems like scholarships almost never help with housing expenses either. USC can definitely take care of the staggering tuition for transfers 
but it just seems like you will have to carry the burden of housing expenses should you choose to live on-campus.