Although Brazil is considered a developing country, the hotel cost is far from low. This is especially true in tourism-flourished Rio. The hotel I stayed costs $150/night. For a single student, a good way to cut lodging cost will be staying in hostels. Two websites to find them:
http://www.hostelworld.com/
and
http://www.hostelz.com/
The hostels in Rio charges $15-$20 a day, and quite a few of them resides in areas that have good views (e.g. Copacabana Beach).
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