The college that they had the reception at wants prints of how the venue looked to show other clients. So, what do I charge and when I sell them the print do they have rights to use it how ever they choose?
Since you are the photographer you will retain your copyright and you will license specific rights to the college which will allow them to use the photos in specific media and for a specific time for a specific dollar amount.
You are the one who decides which rights to license to them, and you will print out a contract outlining these rights which you will both sign. ( You can find simple contracts for this purpose by doing a google search).
You will sit down and discuss with the person buying the photos what specific usage they will need - web only, web and print ads, print brochures, and the time frame they wish to use them in. For example, you can license them for 1 year, and then after a year you can relicense the photos for an additional fee.)
You will grant them 'non-exclusive rights' , which means you are free to license them elsewhere if you wish. If they want 'exclusive rights', which means no one else can use these photos during the time you have licensed them to the college, they would expect to pay more.
Your price will reflect the usage you grant them. For example, if it's web only, for one year, you might charge $200 or so. If you grant them usage in any way they see fit, for however long they want, you would be charging a lot more- maybe $500 or $1000.
Remember, they will be using your photos to advertise a service that they are selling, in other words, by using your photos they are hoping to make more money by selling that space. Colleges have budgets for this and would expect to pay for it. Don't let them get away with flattering you by offering you 'photo credit' instead of payment.
Remember, whatever you charge them is going to be a lot cheaper than if they went out and hired a professional photographer to come out and make photos for them.
It is your creative vision in those photos, your work, your equipment, and don't forget you will have to put in more of your time discussing what they want, going through your photos to find it, burning it onto a cd ( or whatever ) and delivering it to them.
You deserve to be paid for these photos!!