Long before there was Microsoft Virtual PC, there was VMware. I can still remember the first time I used it, and how impressed I was when seeing a virtual computer with it's own OS boot in a window. Eventually when Microsoft introduced Virtual PC already some years ago, and I started using the trial, I ended up using it instead of VMware. No particular reason as both work fine for a home lab. But now,
VMware Server is free, currently in beta, but will remain free after the final version is released.
I've yet to experience the actual difference between the free VMware Server and commercial VMware Workstation version, but it seems to have all a student for Linux and Microsoft certs needs:
www.vmware.com/products/server/
Thank you VMware