1.     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.

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 of Applied Education graduates who have successfully enrolled in LIFE Associate Degree or Higher Diploma programmes immediately after graduation.
Students who completed LIFE Applied Learning (ApL) programme with results shown on their HKDSE certificates and have successfully enrolled in LIFE Associate Degree, Higher Diploma, Diploma or Diploma of Applied Education programmes will also be awarded an Articulation Scholarship of HK$2,000.

3.     Community Service Scholarship
Community Service Scholarships are awarded to students who have outstanding achievements in extra-curricular activities and have made significant contributions to the College and the community.

4.     Director's Scholarship  
To recognise Associate Degree and Higher Diploma students with outstanding academic performance, Director's Scholarship in an amount of HK$5,000 each will be awarded to student who scores the highest Cumulative Grade Point Average (CGPA) of each of the programmes and year of study at the end of the academic year.

5.     Entrance Scholarships
Entrance Scholarship in an amount of HK$8,000/HK$5,000 is provided to new students who possess outstanding academic performance or special achievements. 

6.     HSBC Vocational Education Scholarship 
The HSBC Vocational Education Scholarship is provided and funded by HSBC. This scholarship aims to recognize Associate Degree or Higher Diploma student with outstanding academic performance.

7.     Progression Scholarships
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.
8.     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.