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.
Using this item
New Zealand Herald
Photograph by Glenn Jeffrey
Permission of the New Zealand Herald must be obtained before any re-use of this image.