Senior Portrait Prices...?

Is it by the hour, the frame? I'm only a senior in high school. I started out doing just the senior pics for two of my friends because senior pics in our area cost around 500-600 dollars and VERY few people can afford that. I'm a decent photographer, I use a canon rebel xti and I have photoshop cs3, corel x2, picasa, kodak easyshare, and gimp and I'm pretty good with all of them. I know enough about cameras and the software to do a decent job but I don't have the equipment for an idoor studio [[no lamps or backgrounds...all I have is the pop-up flash that came with the camera, no other external ones.]] so after my other classmates so the work I did on my friends they also wanted me to do their's because they know it won't be costing them $500. I already have 15 other people who have scheduled with me and a couple the same age as me wanting their wedding portraits done by me...I just don't know how to charge them...I'm not printing them because I don't have a decent printer so...

our local printing store will do it and I'll just give them the cd...I want the cost to definately be cheap but I don't know how I would charge them...by the hour or frame or what??? [[all outside and some out of town...like 40 miles away...]] like $40 for an hour??? or $50....
The cost of the prints at the store is鈥?br> $5 - 8 wallets
$2 - 4x6
$3 - 5x7
$6 - 8x10
$14 - 11x14
i think thats how much...
& should I add like $10 or $15 extra for pics in the town 40 miles away???

A little advice, if you're going to be charging, you need a business license and tax ID. You will need to pay taxes on the income as well as sales tax on what they purchase from you.

If you're going to give them the disc, they can take the disc to any printer and pay for their prints through the printer directly. In that case, have your fee cover your time and efforts, and let them worry about what prints and cost with the printer directly.