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(based on 2.2L SOHC 16 valve)

Head gasket - $80

Labor (6.4 hours @ $45 per hour) - $288


Total = $368


Of course, that's just the gasket - not anything else that it might have screwed up.  

Id say take the 600 for it and add that to the 1300 you'll have by your bday and check the classifieds and local listings near you arund then, you'll end up with a lot nicer car that runs better, once you got that then start puttin some work into it. I just replaced the head gasket on my other car and it was $978 out the door. good luck man