Modern bumpers are just plastic, styrofoam, and fiberglass. This makes them much safer when hitting pedestrians but it requires replacing the whole thing when you get a small dent, unlike those old metal bumpers.
So yeah, it most definitely will cost a shitload. Like around $1,000 iirc. I had a fender bender about a month after getting my license at 18 (no damage to the other car!) but since my car was such a cheap shitbox and not worth repairing, I just repositioned the license plate up a few inches to cover the small damaged area.