Depending on where you live relative to campus, there are a variety of options for your regular commute. The UCSB Grad Post has a comprehensive list, but below are a few other pieces of information that might be useful.
If you currently live in San Clemente and have a parking permit for the San Clemente lot (Lot 50), the same permit is valid for night (5:30 pm to 7:30 am), weekend, and holiday parking on campus. This includes Lot 10 next to Engineering II and Lot 16 by the Recreation Center.
If you don't live in San Clemente, as a grad student you can apply for a free Graduate Night & Weekend Permit, which is valid for night (5:30 pm to 7:30 am), weekend, and holiday parking on campus.
If you carpool to campus, you can apply for a discounted parking permit that is typically half the price of a full parking permit.
If you commute to school via alternative modes of transportation, namely by foot, skateboard, bicycle, bus, carpool, vanpool or train, you can apply for an In-Vehicle Parking Meter, which gives you 57 hours/quarter of free parking through the Transportation Alternatives Program (TAP). Note that these hours roll over from quarter to quarter, so they are easy to save for a rainy day or week.