Php45.90 to a USD
so that's Php3,442,500 when converted to USD as opposed to Php3,700,000 if a would-be local cadet pays it in full. the blessed locals who are being sponsored by Cebu Pacific pay half (Php1,850,000) and that's exclusive of the miscelaneous fees such as accomodation, meals, and other services (laundry, extra uniform orders).
it wasn't that long ago when it was about Php53 to a dollar.