The Park View is across the street from Loyola and right on the street car line. I believe they have a Loyola rate.
http://parkviewguesthouse.com/
There are lots of places to eat uptown or Carrollton and St. Charles area within a few blocks and places on Maple and Oak that are close. You can streetcar then walk a block.
We used HomeAway for stays and were very happy
In terms of your stay you would want to decide if you want to stay near the school and travel for action or stay in the action and travel for the audition. The traditional chain hotels are, of course, more near the thick of things.