Fudan to downtown Shanghai

fudan is the top university in shanghai, but you need judge whether the course is really from the university.
you may post website of the course for reference.

line 10 is ok for you.

you need walk for about  10 minutes after get off from line 10. there is no discount for student on metro fares，
but if you cost more than 70 RMB on metro fare in the month， the rest fee is 90% discount


br
Rike

It doesn't make sense to live in people's square area (expensive and busy) and daily commute and switching lines to get the university.
I'd suggest to find accommodation along line 10, many options, there is life , shops, restaurants. Anywhere within 3 stops would cost you 3yuan/ride.
There's no student card but the public transportation card would offer discount for frequent riders. You may also make use of the shared bikes network.

That's helpful thanks. How much are studio apartments along line 10? Are there any you would recommend? I have also been looking into shared arrangements since I will be there less than 1 year

Don't waste your time with ads online, they are mostly fakes.
Book a hotel within your budget and inspect area you are interested in. You will notice local agencies with pictures and price tag , example Lianjia.
Price for one bedroom apartment is around 3000 to 15k in local currency. most places within 6000+ range can be considered decent or acceptable.
Happy hunting!