Final answer:
NSFAS funding is primarily available to undergraduate students from low-income families in South Africa. It is based on income, education level, and cost of attendance, similar to the criteria used for U.S. financial aid programs like FAFSA. High school graduates with strong academic records from low-income families may also qualify.
Step-by-step explanation:
Eligibility for NSFAS funding is mainly targeted towards undergraduate students from low-income families. The National Student Financial Aid Scheme (NSFAS) supports students who are financially needy and who have shown academic potential to succeed at university or college. Following the criteria that have been set by the government, similar to those under the Free Application for Federal Student Aid (FAFSA) program in the United States, eligibility is largely based on income, education level, and the cost of attendance at the institution.
According to the Higher Education Act of 1965, which aimed to increase the educational opportunity for millions of Americans by building the country's human capital, financial aid eligibility considers factors such as income and whether the student attends full-time or part-time. These criteria mirror the approach taken by NSFAS, which is designed to ensure that financial barriers do not prevent qualified students from pursuing higher education. High school graduates with exceptional academic records may also be eligible for NSFAS if they are from low-income families and plan to enroll in undergraduate programs.
While over 70% of all full-time college students receive some form of federal financial aid, such as grants or loans, NSFAS specifically provides for South African students who, without the aid, would not be able to afford higher education. Thus, the correct option for who is eligible for NSFAS funding would be 'Undergraduate students from low-income families'.