Honestly networking = making friends. I've found when I think about networking, I don't really get that far, but when I am just being myself and am open to conversations, I realize who I know that I can genuinely rely on now and in the future. Definitely be friendly with the masters students you encounter - they want to help anyways! The friends you make, the people you're roommates with, the people you work on projects with, are the people that are going to cast/recommend/call/etc. you in the future. Hope that helps! :)
Do you have any tips or advice on networking when in college?