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BankMobile Disbursements 668.164 Disclosure

Milan Institute has partnered with BankMobile to deliver your financial aid refund. For more information about BankMobile, visit this link:

To view our institution’s contract with BankMobile, click here.


Milan Institute has partnered with BankMobile Technologies to deliver disbursements to our students.

Students at Milan Institute have choices on how they receive their disbursements.

Students enrolling at Milan Institute will be asked to select their refund method with BankMobile. BankMobile offers several ways for students to claim their disbursement. Students may choose to have their funds deposited through BankMobile to an existing bank account, a checking account with BankMobile, or at another bank to receive their disbursements by direct deposit, or they can choose to receive a paper check.

No student is required to open a bank account with BankMobile to receive their disbursements.

BankMobile, like most banks, charges a monthly service fee for checking accounts if specific requirements are unmet. We recommend that all students review the fee schedule to determine if a BankMobile checking account is right for them. Some banks may offer free checking to students and individuals under 24. Students are encouraged to review their banking options carefully.

Receiving a paper check will not delay your disbursement.

While checks are typically mailed, students do not need to wait for their disbursements if they choose not to have a bank account. A student that does not select a direct deposit disbursement method will be able to pick up a check at the campus on the same days as the funds would have been available for direct deposit if they choose.

For more information, visit for disclosures on our T1 Service Agreement with BankMobile.