Student Freelancer

Hi guys, i'm new on here so would just like to say 'hi' first!

I'm a 2nd year HND Graphic Design student, and wondering wether it would be worth my while setting up a part-time business on the side (graphics of course!).
I won't lie and say my design skills are amazing, because they're not, i'm still learning, but i think this would be a good way for me to learn heaps more.
I can do things such as: logos, business stationary, leaflets, posters, flyers, etc.
What could I charge for freelance work considering i'm still with 'student status'? Or could i just charge a flat rate for a certain thing?How do things like contracts work out, and what about dealing with printers?
I have not covered all of this as i've only started my 2nd year.
How do you go about advertising yourself, finding projects etc?

Sorry about the long post, but any advice would be much appreciated!