first off, never trust college students. i needed transcripts done, i had 10 college students try and do it, and none of them got more than 10 minutes into a tape.
the best thing to do is to make mp3 files of the audio, capture it in fcp, and then export the audio. the timecodes should match well enough to your file, so that if you add like, 10 second handles, you’ll be fine.
then open up a text program, like word, and listen to the mp3, then type, and keep doing that…….
im a pretty good typer (i dont do transcriptions for my own docs, i do transcriptions to make extra cash) I can do about a 1 hour tape in an 8 hour day!
its tedious, but is doable.