Both Larue and Karin are spot on in their answers. I firmly believe your education and experience should be reflected in your price point. Keeping your target demographic in mind is also essential. I have found that semi-private sessions (2-3 clients) allow for pricing at a more accessible rate. This allows you to keep your one on one sessions a little higher and more in line with your experience/education, but still allows accessibility to those without the funds to afford a private session.
Hope this helps, and good luck with your business.