Generally calculated in person-years. The unit for the measurement of full-time equivalence is a full-time student. Thus, a full-time student equals one full-time equivalent. The full-time equivalence of part-time students is determined by calculating the ratio of their hours studied to the statutory hours studied by a full-time student during the school year. For example, a student who studied one-third of the statutory hours of a full-time student equals one-third of a full-time equivalent student.