I spent 5 years in Lethbridge at the U of L - moved back to the Calgary area this spring, and I miss that city like crazy. There is always a good time to be had, lots of Flames fans to connect up with...and lots of Greasers fans to hassle! And the Fan 960 comes in loud and clear.
I found it very easy to meet people down there; there are lots of clubs and organizations at the univ (even a surf club...in Southern AB. Imagine that.) I highly recommend checking out The Zoo (university bar) for Flames PPV games, and for sure for the Battle of Alberta games - it can fill up in there right quick!
Places to rent are getting a bit tougher to find, so I would recommend looking right away. Check out
http://www.rentlethbridge.com for a start if you need. The U of L also has an off-campus housing list at
http://www.uleth.ca/offcampushousing
Good luck, and have fun!!