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 - start year    
     
TOTAL      
     
AVERAGE TUITION IN CANADA for reference only

Step 2.A

Tuition Needed
Current Savings Cash Needed Loan 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 Loan Payment Start
   

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

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 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