Story: Income and wealth distribution

Student in debt

Student in debt

In April 2008 Joseph McCrory was an Auckland University art student with a student loan of $18,000. Sitting in a cardboard box, he protested the level of student debt in the country, which was about to reach $10 billion. Wealth inequalities are affected by age. Younger students like Joseph are likely to have a negative wealth balance while they borrow in order to study. But once they have a degree, their earnings potential increases, and by their 40s and 50s they are likely to have acquired a house, a superannuation scheme and other savings, so their net wealth is considerable.

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Photograph by Glenn Jeffrey

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How to cite this page:

Brian Easton, 'Income and wealth distribution - Wealth', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/photograph/23814/student-in-debt (accessed 25 May 2019)

Story by Brian Easton, published 11 Mar 2010