Student Income Calculator

Exchange Rates in use
NOTE: Enter information into the yellow fields only:		USD to PESO =		CAD to PESO =		CAD to USD =		CAD to TWD =

Step 1 Identify who and how many persons is/are going to Canada and the Estimated Monthly Expenses

APPROXIMATE MONTHLY EXPENSES (per province)
	Spouse	No. of Student	Kids
Province
Accommodation
Food
Clothing
Entertainment
Health Insurance
Transportation
Phone bill
Internet
Utilities
Miscellaneous
Remittance		start year

TOTAL

AVERAGE TUITION	for reference only

Step 2.A IN CANADIAN DOLLAR (CAD)

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
Percentage of loan needed	Loan Payment Start
Annual Interest Rate	%

Expenses of an Estimated Loan
Loan Amount
Loan Term (IN YEAR)
No. of Payments in months
Interest Only/Balloon Payment
Monthly Payment

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

Loan - First Year
Loan - Second Year
Loan - Third Year
Loan - Fourth Year
Loan - Fifth Year

LOAN PRINCIPAL PAYMENT in CAD		ANNUAL Advance
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9

Step 2.C ADDITIONAL LOAN DETAILS (if any)

Do you need a loan extension?
Additional Loan Needed
Loan Term
Loan Payment Start
Interest Rate (Monthly)		%

Step 2.D ADDITIONAL LOAN PAYMENT DETAILS (if any)

LOAN PAYMENT in CAD if any (MONTHLY)

Loan - First Year
Loan - Second Year
Loan - Third Year
Loan - Fourth Year
Loan - Fifth Year

LOAN PRINCIPAL PAYMENT in CANADIAN

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	%
Term of Loan in Years
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 which province in Canada
Minimum Wage/Hour CAD		Minimum wage per hour (pre-defined)
STUDENT Increase in Wage/Hour CAD		Wage will be upgraded to
YEAR INCREASE		The year the wage has been upgraded - STUDENT
SPOUSE Increase in Wage/Hour CAD		Wage increased for the SPOUSE
YEAR INCREASE		The year the wage has been upgraded - SPOUSE
Annual Tax Rate		The tax rate depends on which province in Canada (pre-defined)
Working hours/week Part Time		20 hours/week during school semester (default)
Working hours/week Full Time		40 hours/week as a regular full time work without overtime (default)
Years of study program		Enter maximum 2 years (1 year for certificate, 2 years for diploma)
Years of post grad work permit		1 year study get 1 year PGWP, 2 years study get 2-3 years PGWP (pre-defined)
First Year 1st Sem Tuition		It depends on the school and program has been chosen
First Year 2nd Sem Tuition		It depends on the school and program has been chosen
Second Year Tuition		It depends on the school and program has been chosen
Settlement Fund

OVERTIME	Year 1 or 2	Year 2 to 5 or Year 3 to 5
STUDENT			Total hours of Overtime will be taken. Only 17.33 weeks/semester on the 1st and the 2nd year
SPOUSE			Total hours of Overtime will be taken in one 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			The 1st year's income
	1st School Year 1st Semester Tuition			1st half of Tuition
	1st School Year 2nd Semester Tuition			2nd half of Tuition
	Annual Living Expenses			Monthly living expenses x 12 months
	Remittance			Monthly remittance x 12months
	Annual Loan Payoff			Monthly loan payment x 12 months
	Loan Pre-Payment Amount			The Loan Amount shall be prepaid
	Loan Principal Payment			Loan Principal Payment
	Balance at the end of the 1st Year			Money in the bank (net income / savings)

YEAR 2	Annual Income			The 2nd year's income
	The 2nd Year Tuition			The whole year's tuition
	Annual Living Expenses			Monthly living expenses x 12 months
	Remittance			Monthly remittance x 12months
	Annual Loan Payoff			Monthly loan payment x 12 months
	Loan Pre-Payment Amount			The Loan Amount shall be prepaid
	Loan Principal Payment			Loan Principal Payment
	Balance at the end of the 2nd Year			Money in the bank (net income / savings)

YEAR 3	Annual Income			The 3rd year's income
	Annual Living Expenses			Monthly living expenses x 12 months
	Remittance			Monthly remittance x 12months
	Annual Loan Payoff			Monthly loan payment x 12 months
	Loan Pre-Payment Amount			The Loan Amount shall be prepaid
	Loan Principal Payment			Loan Principal Payment
	Balance at the end of the 3rd Year			Money in the bank (net income / savings)

YEAR 4	Annual Income			The 4th year's income
	Annual Living Expenses			Monthly living expenses x 12 months
	Remittance			Monthly remittance x 12months
	Annual Loan Payoff			Monthly loan payment x 12 months
	Loan Pre-Payment Amount			The Loan Amount shall be prepaid
	Loan Principal Payment			Loan Principal Payment
	Balance at the end of the 4th Year			Money in the bank (net income / savings)

YEAR 5	Annual Income			The 5th year's income
	Annual Living Expenses			Monthly living expenses x 12 months
	Remittance			Monthly remittance x 12months
	Annual Loan Payoff			Monthly loan payment x 12 months
	Loan Pre-Payment Amount			The Loan Amount shall be prepaid
	Loan Principal Payment			Loan Principal Payment
	Balance at the end of the 5th Year			Money in the bank (net income / savings)

STUDENT INCOME ILLUSTRATION RECAP

YEAR 1	Expenses - Annual					Income - Annual
		Php	CAD		No. of Applicants	Php	CAD
	Living Expenses			Student
	Tuition Fee-1st yr(1st sem)			Spouse
	Tuition Fee-1st yr(2nd sem)
	Loan Payment
	PH Remittance
	Loan Pre-Payment
Total
					SAVINGS

YEAR 2	Expenses - Annual					Income - Annual
		Php	CAD		No. of Applicants	Php	CAD
	Living Expenses			Student
	Tuition Fee - 2nd year			Spouse
	Loan Payment
	PH Remittance
	Loan Pre-Payment
Total
					SAVINGS

YEAR 3	Expenses - Annual					Income - Annual
		Php	CAD		No. of Applicants	Php	CAD
	Living Expenses			Student
	Loan Payment			Spouse
	PH Remittance
	Loan Pre-Payment
Total
					SAVINGS

YEAR 4	Expenses - Annual					Income - Annual
		Php	CAD		No. of Applicants	Php	CAD
	Living Expenses			Student
	Loan Payment			Spouse
	PH Remittance
	Loan Pre-Payment
Total
					SAVINGS

YEAR 5	Expenses - Annual					Income - Annual
		Php	CAD		No. of Applicants	Php	CAD
	Living Expenses			Student
	Loan Payment			Spouse
	PH Remittance
	Loan Pre-Payment
Total
					SAVINGS

SAVINGS IN 5 YEARS:

Php

CAD

AVERAGE MONTHLY INCOME IN 5 YEARS:

Php

CAD

MONTHLY EXPENSES BREAKDOWN
CAD		Php
Province
Accommodation
Food
Clothing
Entertainment
Health Ins.
Transportation
Phone bill
Internet
Utilities
Miscellaneous
PH Remittance
===========================================
TOTAL
LOAN PAYMENT

Disclaimer:

Figures shown are for illustration purposes only. Calculations are subject to change due to courses taken at college, number of hours worked, cost of monthly living expenses, change in minimum wage, loan repayments and whether or not the student plans on remitting money back to the Philippines monthly.
In the above illustration, it shows average no. of overtime made per week:
	No. of hours per week
Student (1st to 2nd year)
Student (3rd to 5th year)
Spouse (1st to 5th year)

Marital Status

	School Options & Tuition Fee per Year	School Application / Admission Fee	Books, Insurance, and Other fees
Option 1
Option 2
Option 3

		1ST SEMESTER			1-YEAR TUITION			2-YEAR TUITION
		Option 1	Option 2	Option 3	Option 1	Option 2	Option 3	Option 1	Option 2	Option 3
I. Cost of Student Visa
School Tuition Fee (in CAD)
School Application / Admission Fee
Books, Insurance, and Other fees

School Tuition Fee (in PESO)
Processing Fees (in CAD)
Get Ready (in CAD)
Consulting Fee (in CAD)
Total Cost for Student Visa (in CAD)

II. Extra Cash in Need
One-way Airplane Ticket(s) (in CAD)
Pocket Money - Cash on Hand when land in Canada (in CAD)
Total Extra Cash (in CAD)

III. Savings
Do you have a savings?
Current Savings in PESO converted to CAD
Current Savings in TWD converted to CAD
No. of Months before Visa filing form now on
Monthly saving (in TWD)
Accu. Amount of Savings converted from TWD to CAD
Total Amount of other source(s) converted to CAD
Total Amount of Savings (in CAD)

IV. Cash in Short (IV. = I. + II - III.)
Cash in Short (in TWD)
Cash in Short (in PESO)

V. Settlement Fund
Settlement Fund for One (1) Yr. incl. 2nd Sem Tuition (in CAD)
Are you Applying a loan for SF?
Monthly Interest Rate			%
SF Loan Processing Fee			%
No. of Months for SF Loan till Visa granted

Monthly Interest of SF Loan (in CAD)
Accu. Interest before Visa granted (in CAD)
Private Loan Processing Fees (in CAD)

Amount to payoff for getting SF by a Loan (in CAD)
If this amount to be paid off by loan in Canada

VI. Loan Amount with Private Investor
Total Cash Needed (in CAD)
Percentage of self-financing fund (e.g. Relatives)	% in CAD
Percentage of Private Investor (Total Loan Amount)	% in CAD
Monthly Payment by Interest Only	% in CAD
in USD
in PESO

Balloon Payment Due by the end of the 3rd year


LOAN NEEDED


without Optional
Amount of Loan in CAD with Optional

Student Income Calculator

Cash Requirements for Student & Loan Calculator

Step 1 Identify who and how many persons is/are going to Canada and the Estimated Monthly Expenses

Step 2.A IN CANADIAN DOLLAR (CAD)

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

LOAN PRINCIPAL PAYMENT in CAD

ANNUAL Advance

Step 2.C ADDITIONAL LOAN DETAILS (if any)

Step 2.D ADDITIONAL LOAN PAYMENT DETAILS (if any)

LOAN PAYMENT in CAD if any (MONTHLY)

LOAN PRINCIPAL PAYMENT in CANADIAN

Schedule A

LOAN AMORTIZATION

Step 3 Define Assumptions and Overtime

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

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

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