Every year, there are numbers of scholarships offered to ITC students. These scholarships and prizes are donated by private organizations, firms, professional bodies and individuals.
List of selected scholarships and prizes (2008 – 2012):
| Name of Scholarship | Eligible Candidates |
| Anita's Textiles Scholarship | HD/BA students |
| Cerie International Limited Scholarship | BA students in Intimate Apparel |
| Chan Hon Yin Couple Charity Trust Scholarship | HD/BA students |
| Clover Group International Scholarship | BA students in Intimate Apparel |
| Dr Angel YS Cheung (Angel Group) Scholarship | Full time local and non-local students |
| Education Scholarships Fund - Murjani Scholarship | BA students in Fashion & Textile Design |
| Frank Lin Fashion Travelling Scholarship | BA students in Fashion/Knitwear Design |
| Gap International Sourcing Scholarship | BA students in Fashion and Textile Marketing & Merchandising |
| Garden Magic Scholarship | BA students in Fashion Technology |
| Hong Kong Intimate Apparel Industries’ Association Scholarship | BA students in Intimate Apparel |
| Hong Kong Silk Piece Goods Merchants Associations Scholarship | HD/BA students |
| Hong Kong Woollen & Synthetic Knitting Manufacturers' Association Scholarship | HD/BA students in Fashion & Textile Marketing/Merchandising |
| Koo’s Fashion Scholarship | BA local and non-local students |
| Legend Swimwear Factory Limited Scholarship | BA students in Intimate Apparel |
| LI Po Chun Charitable Trust Fund Scholarship | HD/BA students |
| Mr. Philip Au-yeung Hung Memorial Scholarship | BA students in Fashion & Textile Design |
| Regina Miracle International Ltd. Travelling Scholarship | BA students in Intimate Apparel |
| Samantha Ho & Glory Wan Encouragement Award Scholarship | HD/BA/MA students |
| The Sincere Scholarship for Innovation in Retailing | BA students in Fashion Retailing |
| Tung Ka Man Melissa Scholarship | HD/BA full time students |
| Vincent V.C. Woo Exchange Scholarship | BA students in Fashion Technology |
| W.K. Chiu Travelling Scholarship | All postgraduate research |
| Wing Lung Bank Scholarship | HD/BA full time students |
| Yee Sui Cheong Memorial Scholarship | HD students |