1998 Ford Contour Timing belt

The car just started to make a sound like a blender filled with screws under the hood. The mechanic says that it is likely the timing belt tensioners and that there is nothing that can be done except wait for failure or to dissassemble the engine and replace the entire belt mechanism.

Is this true or is there a less expensive proactive response? My teenage daughter drives the car and waiting for failure is not an option.