Pricing is always a thorny issue. I charge what I charge because I think it reflects the service I give and the experience I have. Some people charge a lot more than me, some charge less. I'm going to be terribly unhelpul and say that you should apply whatever cost you thin suitable and if nothing appropriate comes to mind base it on your time.
Many of my students like to get their teeth into projects of this nature and both parties can benefit, but often you have to gently nudge them in the right direction since a lot of students feel the urge to try and impress the world and his wife with whiz-bang animations, sound effects Flash movies and all kinds of other stuff. If you hand it over you should either do so in full and make your clients aware of this and let them deal direct with your accomplice or you could steer the project and remain at the helm.
A great part of web design has nothing at all to do with producing the pages. The more work you do behind the scenes in creating a site that is sympathetic to its topic the better the end result will be. My apologies if this is akin to teaching you grandmother how to suck eggs but if you get things moving in an appropriate direction relevant to the organisation/company/whatever that the site is for you are more than half way there.
FrontPage is an excellent starting point and can do anything from simple sites right through to fully blown data driven e-commerce web applications with one condition, you have to know how to get from starting the program up to your goal state without wasting hours messing around with this effect, that layout, this colour shceme and that font.
I can't really be more constructive than to suggest you stick with FrontPage if you want to do it yourself or speak with your local college and see if anyone would like to get involved. You'd better hurry up though: most of my students are currently drooling at the thought of imminent the summer break.
Good luck with it.