the best i found was the best western in martinsville. 20 mile north of bloominton but even that is 127 a night with a 7 day advance purchase at
http://www.bestwesternindiana.com/ho...tinsville-inn/ Not sure you are going to find something better then that with graduation happening. Unless you plan on staying in indy. but then your looking at about a 45min drive to the south side.