Well, syntax-wise VB.NET and Java aren't very much alike but in my experience syntax is the least of the problems in learning a new language.
You certainly have to come to grips with the standard class library of Java which is a little differently organized than .NET, although it contains essentially almost the same stuff.
What's more is that Java has very little syntactic sugar to make tasks easy for you. Writing larger programs alsmost invariably need design patterns and Java is a language which is pretty heavy on those. Learning them and knowing when to use them (or at least spot them in the class library) might take some time, unless you already have knowledge in that area.
For example while in VB.NET you have events for propagating messages between objects such a concept does not exist directly in the Java world. There's the observer pattern for that kind of thing. Depending on how you look at it, .NET events are just syntax sugar for the observer pattern, going on below the hood unbeknownst to the beginning programmer, or .NET simply doesn't have the need to approximate a solution with classes and interfaces where a proper one is already in place.
Actually, my biggest gripe with Java is verbosity and the fact that nearly everything has to be a class.
But for learning, I'd suggest you try just diving right in. There are a whole lot of tutorials out there to help you get started (Sun has many good ones covering key aspects of the Java platform). You can redo a project you already done in VB or come up with a task you want to solve yourself (although I'm not very good at such things, ymmv :-)).
But the easiest way to learn a language is to actually program in it. You'll certainly be no expert until September but solving some problems should be entirely doable. Also, I doubt they'll expecting you to have already mastered the language by then.
As for IDEs we use Eclipse a lot around here and just grazed BlueJ during a single lecture. I'd say you should use what works best for you, although I remember BlueJ not so much as an IDE but rather an interactive Java playground or so. I may be mistaken though as I regularly didn't pay attention to the lectures at that time :-).