Equipment bursaries are awarded to students based on academic excellence and financial need. In the case of a student who has been awarded a donor bursary, the Institute may decide to issue an equipment bursary.

The Academic Merit List is an academic notation, used to recognize the level of highest scholarship demonstrated by students at the Institute. All registered students who achieve a final average of 75% and above (distinction) within an academic year will be added to the honorary list and will receive a letter from the head of the Institution. Only students who are placed on the Academic Merit List stand a chance to receive the Merit Award.

Merit awards are awarded on the basis of excellent academic merit along with an excellent student record and positive and respectful involvement in Institutional activities to the top student on the Academic Merit List.

The aim of the grant is to support and encourage the study of Fashion in order to build the capacity of fashion lectures within the Institution and subsequently empowering the youth of South Africa. Grant applications are reviewed once a year by the VFI Examination Committee.