ok they know your a student right? your fairly new to this, as you picked up a new client.
if your doing a project from start to finish you sit down and edit your website proposal and assess your fees according to each phase of your project. i base my work off of $65.00 per hour and of course you assess your time for project management, phone calls, possible travel etc.
if your doing just web development for an already existing website then you have two options. you can grab a maintenance agreement(in a Word format) and assess a monthly fee. depending on the size of the site and their requests you figure a total. let's say for this site...$250.00 per month.
or
you can charge hourly. i usually don't go by the hour because i want to be fair to my clients and although my clients entrust in the work i do there's always that devil hovering over your shoulders saying ...tack on an extra 30 minutes or an hour. if you go by the hour make sure you don't charge too less of a fee. like $15 per hour is too little. then soon enough, you'll start tacking 30 minutes here, 1 hour there, 2 hours here....you get my drift. If they want to not hire you at that rate because they think it's too expensive then have them go find a non professional who doesn't know what there doing. I would charge them $25 per hour just because that site looks horrid and needs a total facial makeover. lol
Don't give them the option...the option is up to you to go to them. Act professional and tell them this is what I do and these are my fees. If they don't like it...then good for you...you can easily find hundreds more like these on Craigs List everyday if you wanted to. Trust me...there's hundreds out there that are asking for the same type of work.
anyways...that's my tip for you...good luck and if you have any questions...feel free to ask away.
and welcome to the boards
drew