Student Income Calculator

Enter information into the yellow colored fields only:
Pesos: 1 USD = Pesos: 1 CAD =

Step 1 Identify who will be applying and going to Canada and


    Spouse No. of Student Kids
Province
Accommodation      
Food      
Clothing      
Entertainment      
Health Insurance      
Transportation      
Phone bill      
Internet      
Utilities      
Miscellaneous      
PH Remittance      
     
TOTAL      
     
AVERAGE TUITION IN CANADA for reference only
Inputs  
Loan Amount in PESO
Loan Term (IN YEAR)
Annual Interest Rate
No. of Payments in months
Begin Date
Interest Only/Balloon Payment
Summary  
Monthly Payment
   

Step 2.A


Tuition Needed
Current Savings Cash Needed
Savings per month Savings
No. of months to save Needed Loan
Savings Loan Term
Total Savings Do you need a loan?
Percentage of loan needed
   

Step 2.B LOAN PAYMENT in CANADIAN DOLLAR (CAD) if any


Loan - First Year
Loan - Second Year
Loan - Third Year
Loan - Fourth Year
Loan - Fifth Year
   
Year 1
Year 2
Year 3
Year 4
Year 5

Schedule A

LOAN AMORTIZATION

Loan Information Summary
Loan Amount Rate (per period)
Annual Interest Rate Total Payments
Term of Loan in Years Total Interest
First Payment Date
Payment Frequency
Compound Period
Payment Type
Rounding
Periods per Year
Compound Period
Payment Type
Months per Period
Number of Periods
Monthly Payment

Step 3 Define Assumptions and Overtime

ASSUMPTIONS REMARKS
Province of Canada Monthly expense budget depends on where in Canada
Minimum Wage/Hour CAD Minimum wage depends on which province in Canada
Increase in Wage/Hour CAD Wage with increased
YEAR INCREASE Year when to apply the increased in Salary
Annual Tax Rate Tax rate depends on which province in Canada
Working hours/week Part Time 20 hours/week worked is the maximum legal amount during school semester
Working hours/week Full Time 40 hours/week worked is the maximum legal amount without overtime pay
Years of study program Enter maximum 2 years (1 year for certificate, 2 years for degree)
Years of post grad work permit Enter maximum 3 years (1 year study get 1 year post grad work permit, 2 years study get 2-3 years post grad work permit)
First Year 1st Sem Tuition Tuition fee depends on what school and what course
First Year 2nd Sem Tuition Tuition fee depends on what school and what course
Second Year Tuition Tuition fee depends on what school and what course
Settlement Fund  
     
OVERTIME Year 1st or 2nd (year 2nd to 5th) or (year 3rd to 5th) (student only)  
STUDENT Enter number of hours overtime in 1 year (52 weeks) , 17.33 weeks only on 1st and 2nd year
SPOUSE   Enter number of hours overtime in 1 year (52 weeks)

Step 3.A Calculate your potential income in Canada (automatic calculation based on assumptions)

POTENTIAL INCOME EARNED IN CANADA (DURING STUDY PROGRAM - 1st to 2nd YEAR)
YEAR 1
A Part 1: Student CAD PHP
  Income during school semester
(8 months per year)		 per week
    per year
  sub total per year
B      
  Income during school breaks
(4 months per year)		 per week
    per year
    overtime
  sub total per year
C Total A + B combined total per year
    total after tax
D Part 2: Spouse 1(if applicable)    
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
E Part 1 + 2 Combined    
    total per year
    total after tax
YEAR 2
A Part 1: Student CAD PHP
  Income during school semester
(8 months per year)		 per week
    per year
  sub total per year
B      
  Income during school breaks
(4 months per year)		 per week
    per year
    overtime
  sub total per year
C Total A + B combined total per year
    total after tax
D Part 2: Spouse 1(if applicable)    
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
E Part 1 + 2 Combined    
    total per year
    total after tax
 
POTENTIAL INCOME EARNED IN CANADA (POST GRADUATE WORK PROGRAM - 3rd to 5th YEAR
Graduated Student and Spouse can both work full time
YEAR 3
A Part 1: Graduated Student CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
B Part 2: Spouse (if applicable) CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
C Part 1 + 2 Combined    
    total per year
    total after tax
 
YEAR 4
A Part 1: Graduated Student CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
B Part 2: Spouse (if applicable) CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
C Part 1 + 2 Combined    
    total per year
    total after tax
 
YEAR 5
A Part 1: Graduated Student CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
B Part 2: Spouse (if applicable) CAD PHP
  Income all year round
(12 months)		 per week
    per year
    overtime
  total per year
  total after tax
C Part 1 + 2 Combined    
    total per year
    total after tax

Step 4 Calculate your annual income, costs, and total savings in Canada (automatic calculation)

    PHP CAD Remarks
YEAR 1 Annual Income 1st year income
  First Year First Semester Tuition tuition
  First Year Second Semester Tuition  
  1st year living expenses Settlement Fund
  Annual living expenses Monthly living expenses x 12 months
  PH Remittance Monthly remittance to the Phils x 12months
  Annual loan pay back Monthly loan payments x 12 months
  Loan Pre-Payment Annual Loan Prepayment
  Balance after 1st year costs Money in the bank after Year 1
 
YEAR 2 Annual Income 2nd year income
  Second Year Tuition tuition
  Annual living expenses Monthly living expenses x 12 months
  PH Remittance Monthly remittance to the Phils x 12months
  Annual loan pay back Monthly loan payments x 12 months
  Loan Pre-Payment Annual Loan Prepayment
  Balance after 2nd year costs Money in the bank after Year 2
 
YEAR 3 Annual Income 3rd year income
  Annual living expenses Monthly living expenses x 12 months
  PH Remittance Monthly remittance to the Phils x 12months
  Annual loan pay back Monthly loan payments x 12 months
  Loan Pre-Payment Annual Loan Prepayment
  Balance after 3rd year costs Money in the bank after Year 3
 
YEAR 4 Annual Income 4th year income
  Annual living expenses Monthly living expenses x 12 months
  PH Remittance Monthly remittance to the Phils x 12months
  Annual loan pay back Monthly loan payments x 12 months
  Loan Pre-Payment Annual Loan Prepayment
  Balance after 4th year costs Money in the bank after Year 4
 
YEAR 5 Annual Income 5th year income
  Annual living expenses Monthly living expenses x 12 months
  PH Remittance Monthly remittance to the Phils x 12months
  Annual loan pay back Monthly loan payments x 12 months
  Loan Pre-Payment Annual Loan Prepayment
  Balance after 5th year costs Money in the bank after Year 5

* How to Calculate the Amount in Need for a Loan? (in PESO)

MARITAL STATUS        
School Term   Explanation 1 Semester 1 Year 2 Years
School Tuition Canada   Enter the total amount of Tuition in CAD
School Tuition Canada in PESO    
Processing Fee:   Single = 1,300 USD, Married = 1,800 USD
GET READY   Single = 500 USD, Married = 600 USD
Consulting Fee:   Single = 1,500 USD, Married = 2,400 USD
Total Cash Payment    
FNPL Plan:   GR USD 500 = Single and USD 600 = Married
    Non-refundable      
Initial Payment in PESO   USD 3,000.00
Total Cost FNPL    
Add Job if any    
Settlement Fund One (1) Year        
CAD 10,000 Single; CAD 14,000 Married Living Expense
CAD 2,000 single; CAD 4,000 Married couple for one-way flight ticket
Total Cost SF in PESO    
Total Cash in Need    
Savings in PESO Up to current, cash amount in the bank account
Number of month before Visa Application from next month    
Monthly saving in PESO    
Accumulated Amount of Savings    
Total Savings    
           
Total Cash for the Loan    
Identify the loan (1sem, 1 yr, or 2yrs)