He's just a second year student and the only project I've seen is something that any competent student at my almma matter could produce.
Now look at the marketplace. For $40/hour you can currently get an experienced developer living anywhere that isn't San Francisco or NYC.
$100/hour is $4000 a week and $16,000 a month. Now certainly someone, somewhere can command this price but lets not pretend that it is the natural fit for a student.
If you're willing to pay $16,000 then your rate is comprable to what Google/Facebook pay their summer interns for 3 months whom I assure you have just as much skill and passion as you see here.
