That's cheap. "Where's the catch" cheap.
Furniture... Well, the trick is to drive around college neighboorhood around the end of the semester, or move in time. College student ditch crap around like you wouldn't believe.
Seriously, just walking around the dorms during move in or move out week, when I was in college, you could furnish a room. Going around the neighboorhood I lived in the last two years was even better - I'm talking about barely used stuff, here.
Of course, don't expect brand new high quality stuff - But hey, college is the only time of your life where dumpster-diving isn't frowned upon.
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