Employment status is the legal classification of a worker, which may vary depending on how the work is contracted and how long the agreement lasts. Some of the most common categories include:
- Full-time Employee:
- Part-time Employee
- Independent Contractor
There are no universal definitions for many of these, for example, full-time vs. part-time employees. Typically a full-time employee works 30 hours or more a week (or 130 hours a month). In the context of the Student Debt Solutions system, "part-time employee" is an umbrella term that may also include casual or seasonal employees. Independent contractors are generally paid via IRS document 1099, whereas someone who is self-employed has a formed a business and keeps these expenses and incomes separate from personal expenses and incomes.