Generally, heating elements are easy to replace but of course it differs slightly for different models. Get a quote for the repair then you will no for sure which is the more expensive. Repairing may not be the best solution if the dryer is very old.
Are you sure it's not a overheat safety device tripped. Mine has a button on back and if we get too much fluff it trips. In the past I have found by the time the element fails the drum bearings are also on the way out and it seems one is chasing the faults. However they are normally easy to change. But will vary make to make. Mine has two elements and I would expect they will not blow together so likely you would get half heat for a long time before no heat so do check for safety device.
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