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


Very Important!
  1 Principal Applicant
2 Spouse 1 / Worker
3 Student 2
4 Spouse 2 / Worker
5 Student 3
6 Spouse 3 / Worker
7 Student 4
8 Spouse 4 / Worker

Step 2 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.
Total $ Working hours/week Full Time 40 hours/week worked is the maximum legal amount without overtime pay.
PH Remittance 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 Tuition Tuition fee depends on what school and what course
LOAN PAYMENT in CANADIAN DOLLAR (CAD) Second Year Tuition Tuition fee depends on what school and what course
Loan - First Year First Year Living Expenses  
Loan - Second Year      
Loan - Third Year OVERTIME 1st and 2nd year 3rd to 5th year (student only)  
Loan - Fourth Year STUDENT 1 Enter number of hours overtime in 1 year (52 weeks) , 17.33 weeks only on 1st and 2nd year
Loan - Fifth Year SPOUSE 1   Enter number of hours overtime in 1 year (52 weeks)
    STUDENT 2 Enter number of hours overtime in 1 year (52 weeks) , 17.33 weeks only on 1st and 2nd year
LOAN PRE-PAYMENT EVERY END OF THE YEAR in CANADIAN DOLLAR (CAD) SPOUSE 2   Enter number of hours overtime in 1 year (52 weeks)
Year 1 STUDENT 3 Enter number of hours overtime in 1 year (52 weeks) , 17.33 weeks only on 1st and 2nd year
Year 2 SPOUSE 3   Enter number of hours overtime in 1 year (52 weeks)
Year 3 STUDENT 4 Enter number of hours overtime in 1 year (52 weeks) , 17.33 weeks only on 1st and 2nd year
Year 4 SPOUSE 4   Enter number of hours overtime in 1 year (52 weeks)
Year 5  

Step 3 Calculate your annual income, costs, and total savings in Canada (automatic calculation)

    PHP CAD Remarks
YEAR 1 Initial Costs (Step 3) tuition
  1st year living expenses Settlement Fund
  Balance after Initial Costs  
 
  Annual Income (Step 5) 1st year income
  Annual living expense (Step 4) Monthly living expenses x 12 months
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  PH Remittance Monthly remittances x 12 months
  Loan Pre-Payment  
  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
  Second Year Tuition Fee  
  Annual loan pay back (Step 1) Monthly loan payments x 12 months
  PH Remittance  
  Loan Pre-Payment  
  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 loan pay back (Step 1) Monthly loan payments x 12 months
  PH Remittance  
  Loan Pre-Payment  
  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 loan pay back (Step 1) Monthly loan payments x 12 months
  PH Remittance  
  Loan Pre-Payment  
  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 loan pay back (Step 1) Monthly loan payments x 12 months
  PH Remittance Monthly remittances x 12 months
  Loan Pre-Payment  
  Balance after 5th year costs Money in the bank after Year 5