I go to UBC, so I hope some of this helps. I found a list of accommodations here
http://www.linguistics.ubc.ca/wscla/accommodation.html Some UBC housing has guest rentals, not sure about price though. UBC is in one of the pricier parts of town. There are also links to B&Bs and hostels which may be more affordable.
UBC is about 30-40 minute bus ride from downtown (driving by car is about the same because Vancouver traffic is BAD). If your friend will spend most of her time downtown, then finding somewhere closer to downtown may be better. In general, further west is better and also more expensive. The worst area is Hastings and Main (the Downtown Eastside) so avoid hotels around there. That said, the Downtown Eastside only extends a few blocks and borders most of the interesting parts of Vancouver. I avoid it at night but walk through it all the time during the day to get places. If preferred, it is easily avoided by taking skytrain one or two stops.
Suggested places to visit in Vancouver include Chinatown, Robson street for shopping, Granville for shopping/entertainment, Stanley Park. There are lots of beaches and gardens (around UBC too). Granville Island is a huge market with fruit/veg, fish, arts and crafts. Richmond has a large open-air night market that runs until the end of Sept (or maybe into Oct?). Vancouver has a pretty good transit system and most places can be reached by bus/skytrain.
That's all I can think of off the top of my head. Hope your friend enjoys their trip.