Good luck getting the ticket. I myself am staying away, as I have proven bad luck to our Buckeyes in that every big game I have gone to in the past decade we've lost. With the exception of the 2010 Sugar Bowl, which didn't even happen apparently. So, I'm taking one for the team per se.
As for lodging, if you're on a budget, and flexible, try airbnb. Here's a link to a search for NOLA around that time period. https://www.airbnb.com/s/New-Orleans--LA--United-States?checkin=12%2F31%2F2014&checkout=01%2F02%2F2015&source=bb
I've used airbnb before, and it worked out perfectly and most importantly was very budget friendly. Good luck.