Hi everyone! I am a senior at UCF. To be honest, you are going to want to live near UCF, it will be a huge PAIN driving on I-4 or other congested roads. All the places in between are toursity/exspensive or gross. Trust me, after a week of driving on major roads/traffic you will want to move. There are nice places near UCF but not ON UCF. I would suggest the Waterford Lakes area or the Avalon Park area. Waterford is a 10 minute drive if you hit traffic lights and Avalon is a 15 minute drive if you hit all the lights. They both are communities, so you have shopping centers/houses/apartments. They are also nicer parts of the town. You will find that it is mixed students and families in Waterford and Avalon.
I live in Waterford in the Victoria Place Apartments, and I love it! It takes me 35-45 minutes to get to Disney and 5-10 minutes to school. There also is a huge shopping center across the street from my place which is REALLY nice!
I could go on forever on advice for you lol, so if you have questions ask away please!