There's a Comfort Inn or such pretty close to the school, you'll still need a cab ride from airport to the hotel and then to the campus, but the place is nice and has an indoor pool and bar (for after the interview ).
I stayed at the townplace suites in East Lansing; the rate was about $70 for a very nice town home/apartment style hotel room. I was going to take a taxicab from the airport, but decided after the fare and tip both ways, it would be about the same as renting a car; I think I paid around $55 at budget.
Anyway, townplace was within walking distance to Fee Hall as well as a strip mall with a few restaurants and golds gym. I was able to con my way into a free day pass at the gym; great stress releaser after all the traveling. Try looking on expedia, orbitz, or hotels.com for a deal. If you are up for it, I also believe that MSUCOM can arrange for you to stay with a current student.
Best of luck with the interview!!
The Ramada Inn in East Lansing is only a few miles away and is nice and reasonably priced. The Kellogg Hotel is actually ON campus, but will be more expensive and is across the campus from Fee Hall. I second the Townplace suites are also pretty much ON campus, and very nice, if they still have the middle eastern resturant in the little strip mall near it check it out, its pretty good.
wisconsinmilf is right about the car. The airport is fairly far away, and except for the "pleasure" of having to park on campus for your interview, it would be a better choice than a taxi.