Insignia portable 7 in DVD player doesn't read DVDs?

I have an Insignia portable 7 in DVD player, model # NS-7PDVDA, which is less than a year old and recently it stoped working. After placing a DVD in the compartment it says it is loading the DVD but it never does and eventually gives another message that reads "no disc". The player is no longer under warranty but I would like to know if it is something simple that can be resolved without too much money involved. When I purchased the unit it was only around $ 80.00.