finances

Posted By: sallie on 2007-07-24
In Reply to: best schools? - Lerissa Broome

Both Andrews School and M-Tec offer payment plans. Andrews has a two year payoff with no interest. With M-TEC you can apply for a Sallie Mae loan (interest will vary, payoff period can be up to 180 months, deferred payment also available). It is possible your payments with a Sallie Mae could be around $50/mo or under.

Don't throw away good money on a bad school. You'll only kick yourself when you can't find a job :)

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do you need a license to be a MT? - ReggieP
- Unfortunately, no. - Should be, though.
- No, no license required. - clhmt
  - best schools? - Lerissa Broome
    - finances - sallie
    - Penn Fostetr isn't worth the time. Their - me
      - What is wrong with being a MT? - ReggieP
        My experience - wah MT
        Not the profession. MTs in house at hourly pay do great. The world of the - at-home MT is where the probs are. nm Shrinking Fa
        ...nm Shrinking Fast - Down the road, there will be NO at-home MTs, IMHO.
        That's ridiculous. There will always be MT jobs. - sm
        Except for Indian and Filipino ones. nm - We're becoming outnumbered by the day. NM
        Well let's see; no raises in years and even pay cuts, - me
        Not so bad - LK
        I absolutely agree. I have 4 years' experience, but wouldn't try to enter the field now. nm - deb

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Let's Look at the Finances (sm)
These sorts of things are generally just plain bad business for a newbie.

Quite honestly, if anyone's skills are so poor that this kind of work-for-almost-nothing-to-get-experience scheme sounds attractive, they would be better off taking a reputable course.

Let's pretend you're being paid 3 cents a line, so you're losing at least 4. Doing only 1000 lines a day, you're losing $40 a day, or $200 a week.

In just 19 weeks, you will have lost enough money to have paid for the most expensive transcription school's tuition, and you will have no guarantee that you will have learned anything or gained any experience, and you'll probably have had to buy references that the school would have included in the tuition.

At 2 cents a line, you'll have paid for that school in 15 weeks, and at 1 cent a line, you'll have paid for that school in 13 weeks or just 3 months.

If you can't get a job after completing whatever course you took, taking a better course is often more economical than a mentoring scheme in which you're paid nothing.

finances
For the moment, we (newbies not working in the field) are earning 0.00, so even at 0.03 that's an increase. Mentoring is a VERY positive thing (I'm not only looking at this from the MT standpoint, but from a general business standpoint. I'm not a 'young' one, I'm a 'change of career' student).

Schools and finances
Hello. I'm currently on disability and have an extremely tight budget. I was looking into becoming an MT to supplement my husband's income. The only school I found that would work with me on payments was At Home Professions. I looked into the top 3 that everyone is always talking about and none of them were willing to work with me. Is it really going to be completely impossible for me to find work after completing that school? Thank you in advance.