Blender is free, but might take more time to learn, since the workflow is different from most other 3D programmes. There are other programmes, too.
Milkshape was free before, but not anymore. Though, as far as I know, it's one of the cheapest 3D programmes.
3D max is in the same league as Photoshop... makers wants money.
Gimp is free, though
Just remember that meshing isn't easy - especially when you're new to it. Lots of confusing tools, navigating gone astray, plus meshes ending up looking like a car crash. My first day at mesh-making, I was just happy I managed to make a figure out of primitives (like boxes and spheres that were "drag and drop"). I've been working with 3D for a year now, and I'm still learning. Animation is even harder, and often takes ages to get right (I've made two 3D shorts, so I know what I'm talking about...).