Try this...
'change this...
Dim vExam1, vExam2, vExam3, vfinal, vAvg, vtotal As String
'to this...
Dim vExam1, vExam2, vExam3, vfinal, vAvg, vtotal As Double
'then do the following
vExam1 = ctype(vfstudentG.Substring(12, 3),double)
vExam2 = ctype(vfstudentG.Substring(15, 3),double)
vExam3 = ctype(vfstudentG.Substring(18, 3),double)
vfinal = ctype(vfstudentG.Substring(21),double)
vAvg = (vExam1 + vExam2 + vExam3 + vfinal * 2) / 5
lstout.Items.Add(String.Format(fmtstr, vsocSec, vAvg.tostring))