There's SharpDevelop (http://www.icsharpcode.net/Opensource/SD/), it's a free C# and VB.NET IDE. What's wrong with Microsoft's Visual Basic .NET Express Edition (http://www.icsharpcode.net/Opensource/SD/)? I've used their Visual C++ Express Edition (http://msdn.microsoft.com/vstudio/ex...c/default.aspx), and it wasn't all that bad.

A recomend a quick Google Search (http://www.google.com/search?q=Free+VB.NET+IDE) before asking questions like this. Try a few you find out, and see which you like best. I have no preference, as I've never done any VB.NET development.

Good luck,
enmand