Depends which dorm you live in. On campus dorm food isn't that bad. Francisco Torres cafeteria kinda went down hill after college park took over it. Yet when compared to other UC's the UCSB's food is great.
Housing just like anywhere in California is costly, but higher than average in SB/Goleta. The majority of students (including city college) live in Isla Vista. The beach is within a 5-10 walk usually from "HIV"
Nightlife is poppin' usually starting thursday. Everyone runs down to Del Playa and parties, make sure you have your cup empty and upside down when you walk around. Downtown is about 13miles away but has a great nightlife also. There are plenty of places to go and things to do. Enjoy yourself but remember to goto school too =P
Edit: parking is pretty fair. If you plan to drive to class you have to purchase a permit, and I don't recall the exact price but it's quite costly. Most students ride bikes or walk to class because they live so close. Parking in IV is pain too. Your orientation is right around the corner, and make sure you go out and explore while you're there...