First and foremost, Stasiulionyte advised, look for other options than loans. She financed her college education via a full scholarship for her javelin skills—but pointed out that other possibilities exist, including paying jobs, help from family members, looking for investors or launching a crowdfunding campaign.

But if they’re already mired in debt, millennials can look for ways to get out of that hole as quickly as possible. Suggestions include cutting expenses to the bone—driving a used car, perhaps living with relatives to save on rent, avoiding shopping and not indulging in luxuries like vacations. If they’re Web-savvy, millennials can try making extra money by blogging or Web design—anything to boost the amount they’re paying on those loans to get them paid off faster.

Related: Side-hustling millennials find work outside of day jobs

Of course, none of these may sound particularly easy or fun, but that’s part of the problem, according to Monaco. Millennials don’t see the value in being thrifty or struggling to achieve their objectives, which Monaco said means those objectives just aren’t important enough to them—they aren’t hungry enough to achieve their goals. So they should learn to be hungry.

“It’s not enough for people, especially millennials, to have the information or the directions in order to become passionate about something,” Monaco said in a statement. “Young people need to be mentored…. The main difference between those who succeed and those who don’t is the passion and motivation. The richest people are the hungriest ones.”