Article Manager posted on July 29, 2010 09:49
We've discussed financial options before, but for many people transitioning from one career to medical transcription, the cost of training could be a prohibitive factor. It doesn't have to be.
In general, you have two options for funding your career training (besides doing it all yourself). You can borrow the money or rely on free tuition assistance.
The problem with the free tuition assistance option is that there is no guarantee. Not everyone is awarded the assistance. It is something you have to win and there are a limited number of awards each month. We'd like to be able to give everyone free assistance for their career training, but that's not realistic. It costs to provide the training and the money has to come from somewhere. It usually comes from our paid tuition students.
However, as an act of goodwill, Future MT does offer free tuition assistance to some students every month. This is money that does not have to be paid back.
But what if you don't win the tuition assistance, full- or part-time? In that case, you might be stuck with a student loan. But the loan you receive from Future MT is better than any bank loan. The interest is more affordable and the terms are more agreeable. You won't be in debt for life. In fact, many students pay off their loan within three months. We also have a 12-month option. And your payments are very affordable.
Whether you receive a loan or a scholarship you must be enrolled in the course. That's your first step. Once you are enrolled in the online medical transcription course then you can register to receive the free tuition assistance and apply for a loan. Even if you are awarded a loan you could win one of the free tuition assistance awards, which you can use to help pay off your loan. So we go through a lot of trouble to make sure every student has funding options for their career training.