Power steering rack bushing?

I have a 98 buick century that ran well til about a month ago. Now the steering wheel moves all over the place and you have to turn it a lot to turn the wheels when driving. While going slow speeds I have to really crank the wheel and it's making tons of clunking and grinding noises. Does this sound right to be the bushing where the column meets the rack? What else could cause this? What is the easiest/cheapest way to go about having this repaired? I owe about $500 til it's completely paid off and would like to continue to keep it but if it's too much of a hassle I will sell it. Any info is greatly appreciated. Thank you!