Student Couple (22 year old male and female), looking for long-term (12 months +) accommodation in Reykjavik

My boyfriend and I are both 22-year old graduates from the University of Malta who have been admitted into the University of Iceland to read for an MSc in biology and geology respctively. We would like to find accommodation that is realteively cheap but comfortable, with good WiFi access, not too far from public transport stops or from the University. We would also prefer sharing a room together or at least having a studio apartment or room to ourselves (even if no double bed is available).