Long time ago, i registered for the 3DState 3D editor, and it was aimed for students.
But some days ago, they sent me a link to their 3D engine, free and for Visual Basic
I might start making a game with it

EDIT:
Okay, i found out it was a preview
Anyone knows a 3D engine for VB?

How about XNA? It might not be exactly what you are looking for. Its C# only, but I've found it easily to migrate to.

http://msdn.microsoft.com/en-us/library/bb200104.aspx

You've probably already tried it, but thought I'd throw it in.

I have tried to install it, its very difficult
It stops when installing LIVE Gaming thing..

Thx though.
But XNA needs other things too that is commercial,
i saw on the GDK site.. only stuff that needs to be bought