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The average American spends more than $25,000 annually for undergraduate tuition and associated costs, according to the National Center for Education Statistics. Sun Group Wealth Partners managing director Winnie Sun joins Wealth! to discuss her top tips for students to navigate the cost of higher education.

Sun encourages students to find themselves a "money tribe." She explains that "some people may be in your dorm or in your social circle who are also focused on saving money," and by aligning yourself with this group, students are more likely to be held accountable to your saving goals and keep spending overall in check. The second best thing to do, she argues, is to set up a budget and savings goals, like paying off student loans quicker than expected.

For students who have credit cards, she recommends setting up notifications for card usage. That way, they are aware of every purchase they make and how much they are spending relative to their budget.

When it comes to more expensive charges like housing and meal plans, Sun recommends finding ways to cut down fees. One way to do so is to find work in residence or dining halls, where universities may give credits or waive fees.

Lastly, Sun encourages college students to find part-time jobs to bring in some extra cash. "When you work and you find that job, whether it be the internship office at your college or the local newspaper... not only will you be bringing in income, but you'll also be building a foundation, a resume, a work foundation for when you get closer to graduation. You'll have actually a leg up versus the many, many candidates then competing for that next perfect job or aspirational job that you want," she explains.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Melanie Riehl