How do I repair the audio jack on an iPod?

My iPod Touch is 2 years old, so it’s out of warranty. The audio jack is very fault now due to lots of usage. When I plug headphones or a stereo cord into the audio jack, the left speaker does not work at all unless I apply pressure to the right side of the input jack. Basically the jack is not making a connection and it requires an extra amount of force to make contact. Otherwise my iPod is perfectly fine and I do NOT intend to spend another few hundred on another.

What is the best way to have this repaired? I saw places online that let you mail it to them, but it looks like there’s nothing under $100 for this kind of repair. Anybody have other suggestions?