1.     Entrance and Progression Scholarships
Entrance Scholarship in an amount of HK$5,000 is provided to new students who possess the outstanding academic performance or special achievements. Progression Scholarship of HK$5,000 will be granted as an incentive to Associate Degree/Higher Diploma Year 1 students who progress to Year 2 with the outstanding academic results.

2.    Articulation Scholarships
To encourage students to further their studies at LIFE, Articulation Scholarship in the amount of HK$2,000 will be awarded to LIFE Diploma and Diploma Yi Jin graduates in the academic year 2021/22 who have successfully enrolled in LIFE Associate Degree or Higher Diploma programmes.
3.     Academic Scholarships
About 50 Academic Scholarships are available annually. The scholarships will be awarded to students according to their academic merit, achievements in extra-curricular activities and contributions to the College or University.
4.     Community Service Scholarship
Community Service Scholarships are to award the students who have outstanding achievement in the extra-curricular activities and contributions to the College and Community.
5.     Self-financing Post-secondary Scholarship Scheme (SPSS)
The Self-financing Post-secondary Scholarships are provided and funded by the Education Bureau. These scholarships aim to recognize sub-degree students with outstanding academic performance, achievements and talents in other non-academic fields. Under this scheme, there are FIVE types of scholarships, (1) Outstanding Performance Scholarship, (2) Talent Development Scholarship, (3) Reaching Out Award, and (4) Endeavour Scholarship are opened for applications annually; while (5) Best Progress Award is to be nominated by LIFE. The amount of each scholarship ranges from HK$10,000 to HK$30,000 per year.

6.     HSBC Vocational Education Scholarship 
The HSBC Vocational Education Scholarship are provided and funded by HSBC. This scholarship aims to recognize Associate Degree or Higher Diploma student with outstanding academic performance.
Each eligible applicant who has passed the means test under the Financial Assistance Scheme for Post-secondary Students (FASP) will be offered an additional AE grant of up to $8,000 every year.  The actual amount of subsidy receivable is to be determined with respect to the applicant’s level of assistance assessed in the means test.