Answer:
You dont have too pay for it! That kid should.
Its a risk too take, you need too buy the repair kit for the YLOD from a site like ebay. Then find a good tutorial showing you how on youtube.
Here I find some "I wouldnt answer without a link!"
Tutorial: http://www.youtube.com/watch?v=4_Ic1_TY-GU
http://boardsus.playstation.com/playstation/board/message?board.id=ps3&thread.id=3733409&view=by_date_ascending&page=1
Or you can try going cheaper and finding a repair service on ebay. Your call.

{ 3 comments… read them below or add one }
Hi! I follow a repair guide and managed to fix it myself in 3 hours. If you are interested to find out how I did that, you may refer to this article, hope it helps you.
http://www.articlesbase.com/video-games-articles/fix-ps3-yellow-red-light-of-death-yourself-at-home-1686061.html
here is an article about fixing ps3 yellow light of death you might want to check it out.
hope you find this article helpful and good luck.
have you checked out http://fixmyps3fast.com/ ?