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.