Client Help

Well, my web design teacher directed to me someone who is looking for a student to design her a new and improved website. She is a professional speaker or something of the sort and has a business which relies on her website for future clients to get a good impression of her. She is really just looking for a free web design job and give the person credit on the site, but she is willing to pay if the student does a great job..

Originally, she wants a fully functional site with PHP coding and all the tidbits, but I am saying I can't do that to my teacher. Also, she wants a whole new identity, some flash work and advanced HTML/CSS/JavaScript coding.

From my standpoint of being a student who doesn't do webdesign work for clients, should I pick up this project just doing the design and html/css coding for free and possibly getting paid?

I told my teacher that since I couldn't do the PHP/Logo, I could direct her to SitePoint contests forum, and a top-notch PHP coder so she can get the rest of her site done.

Would you bother? (Just keep in mind I'm a student who does minimal design work)