For a video tutorial on overhauling wheel bearings, see this tutorial at bicycletutor.com.

Cone wrenches are about $7 at the LBS. He might need two sizes.

For a bike with a freewheel hub I needed to buy a freewheel tool because I couldn't remove the axle without removing the freewheel. That was another $10.

Not the end of the world. And, tools he would need to maintain a bike with QR axles. (If he wants to save money.).