Like the others have said, you have to weigh how much this particular teacher means to you and what your personal comfort level is.
I personally believe that this is a bit on the high side - to give a little more perspective, all-day classes at AQS functions seem to be going for $100 for non-members, $80 for members. At Quilt Odyssey all-day classes were $70 this year. Most provide you with a supply list, so you can shop your stash or buy all new fabric, so you have some control over the expense. Some require the purchase of a book or pattern and/or a specific ruler.
You might want to check this teacher's website to see if there is another time or place that you could take a class that would work better for you.
Good Luck!