Student Loan Calculator

Enter information into the yellow colored fields only

Step 1 Calculate your student loan amount and monthly payments

Enter 1) Loan Amount 2) Annual Interest Rate 3) Term of Loan

Loan Amount in Pesos
Annual Interest Rate
Term of Loan in Years


Summary


Monthly Payment Pesos
# of Payments
Total Payment Pesos
Total Interest Pesos
Pesos: 1 USD =   Pesos: 1 CAD =

Step 2 Identify who will be applying and going to Canada

Enter 1 for YES , 0 for No


1 Principal Applicant
2 Spouse
3 Child #1
4 Child #2
5 Child #3
6 Child #4

Step 3 Calculate the initial costs of obtaining student visa and going to Canada (only enter yellow parts

Item Pesos USD CAD Remarks
Flight to Canada

Estimated P 40,000 one-way ticket per person
Medical Exam

Average cost per person is P 8,000
Visa fee - Principal Applicant
USD 150 for principal applicant
Visa Fee - Spouse
USD 255 for spouse
Visa Fee - Child
USD 150 per child
Handling Fee - Single or W/ Dependent

P 10,000 for single, P 15,000 w/ dependent
Consultancy Fee - Single or W/ Dependent
P 10,000 for single, P 15,000 w/ dependent
IELTS

If taking IELTS in the Philippines
ECA

If needed = P 12,000, ECA = Educational Credential Assessment
1st Year Tuition
Average tuition in Canada is CAD 15,000 per year, can range 8000 - 20,000


Used as proof of sufficient funds, to be deposited in advance and held in account
1 Year Living Expenses (minimum)
CAD 10,000 for single, CAD 4,000 for spouse, CAD 3,000 for each child
GRAND TOTAL


Step 4 Calculate your monthly living expenses in Canada and Define Assumptions

MONTHLY EXPENSES IN CANADA (CAD) ASSUMPTIONS Remarks
Rent $ Province of Canada Monthly expense budget dependents on where in Canada.
Food $ Minimum Wage/Hour CAD Minimum wage depends on which province in Canada.
Transport $ Annual Tax Rate Tax rate depends on which province in Canada.
Misc. $ Working hours/week Part Time 20 hours/week worked is the maximum legal amount during school semester.
Loan Payment Working hours/week Full Time 40 hours/week worked is the maximum legal amount without overtime pay.
Family Remittance Years of study program Enter maximum 2 years (1 year for certificate, 2 years for degree)
Total $ 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)

Step 5 Calculate your potential income in Canada (automatic calculation based on assumptions)

POTENTIAL INCOME EARNED IN CANADA (DURING STUDY PROGRAM - 1st YEAR)
A Part 1: Student CAD PHP
  Income during school semester
(8 months per year)
per week
    per month
  sub total per year
B      
  Income during school breaks
(4 months per year)
per week
    per month
  sub total per year
  Total A + B combined total per year
    total after tax
C Part 2: Spouse (if applicable)    
  Income all year round
(12 months)
per week
    per month
  total per year
  subtotal after tax
  Parts 1 + 2 Combined    
  Total Income per year (A+B+C) total after tax
 
POTENTIAL INCOME EARNED IN CANADA (DURING STUDY PROGRAM - 2nd YEAR if applicable)
A Part 1: Student CAD PHP
  Income during school semester
(8 months per year)
per week
    per month
  sub total per year
B      
  Income during school breaks
(4 months per year)
per week
    per month
  sub total per year
  Total A + B combined total per year
    total after tax
C Part 2: Spouse (if applicable)    
  Income all year round
(12 months)
per week
    per month
  total per year
  subtotal after tax
  Parts 1 + 2 Combined    
  Total Income per year (A+B+C) total after tax
 
POTENTIAL INCOME EARNED IN CANADA (POST GRADUATE WORK PROGRAM - 1-2 YEARS
Graduated Student and Spouse can both work full time and receive full Child Care Benefits
A Part 1: Graduated Student CAD PHP
  Income all year round
(12 months)
per week
    per month
  sub total per year
B Part 2: Spouse (if applicable) CAD PHP
  Income all year round
(12 months)
per week
    per month
  sub total per year
  Parts 1 + 2 Combined    
  Total Income per year (A+B) total per year
    after tax

Step 6 Calculate your annual income, costs, and total savings in Canada (automatic calculation)

    PHP CAD Remarks
YEAR 1 Loan Amount (Step 1)  
  Initial Costs (Step 3) Credit back 1st year living expense
  1st year living expenses To be deposited in bank account for 1st year
  Balance after Initial Costs Money in the bank once landed in Canada
 
  Annual Income (Step 5) 1st year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual remittance to Ph (Step 4) Monthly remittances x 12 months
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  Balance after 1st year costs Money in the bank after Year 1
 
YEAR 2 Annual Income (Step 5) 2nd year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual remittance to Ph (Step 4) Monthly remittances x 12 months
  Second Year Tuition Fee  
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  Balance after 2nd year costs Money in the bank after Year 2
 
YEAR 3 Annual Income (Step 5) 3rd year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual remittance to Ph (Step 4) Monthly remittances x 12 months
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  Balance after 3rd year costs Money in the bank after Year 3
 
YEAR 4 Annual Income (Step 5) 4th year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual remittance to Ph (Step 4) Monthly remittances x 12 months
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  Balance after 4rd year costs Money in the bank after Year 4
 
YEAR 5 Annual Income (Step 5) 5th year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual remittance to Ph (Step 4) Monthly remittances x 12 months
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  Balance after 5th year costs Money in the bank after Year 5
  Note: 1st year living expenses (Step 3) is still in the bank and not yet withdrawn, the amount is:
  CAD PHP Remarks
  Can be withdrawn anytime after 1st year for needed funds