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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 | |
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| Summary |
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| 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 |
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Estimated P 40,000 one-way ticket per person | |
| Medical Exam |
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Average cost per person is P 8,000 | |
| Visa fee - Principal Applicant |
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USD 150 for principal applicant | ||
| Visa Fee - Spouse |
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USD 255 for spouse | ||
| Visa Fee - Child |
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USD 150 per child | ||
| Handling Fee - Single or W/ Dependent |
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P 10,000 for single, P 15,000 w/ dependent | |
| Consultancy Fee - Single or W/ Dependent |
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P 10,000 for single, P 15,000 w/ dependent | ||
| IELTS |
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If taking IELTS in the Philippines | |
| ECA |
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If needed = P 12,000, ECA = Educational Credential Assessment | |
| 1st Year Tuition |
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Average tuition in Canada is CAD 15,000 per year, can range 8000 - 20,000 | ||
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Used as proof of sufficient funds, to be deposited in advance and held in account | ||
| 1 Year Living Expenses (minimum) |
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CAD 10,000 for single, CAD 4,000 for spouse, CAD 3,000 for each child | ||
| GRAND TOTAL |
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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 | |||||||||||