I am helping a friend fix up an old basement and she has rough boards under the wallpaper. She can't afford to replace the boards or all of the wallpaper. Is it possible to paint over the wallpaper? Some of it has a textured look to it. It is in good shape (no peeling edges) but it is so ugly that she doesn't want to look at it any longer.

Sure you can paint over the wallpaper if it is tight on the wall. If it is a paper backed wallpaper which is what is normally used in a residential setting then you will want to prime it with an oil based primer. The oil based primer will seal it and keep the moisture from future coats of latex/water based paint lifting the wallpaper.