Students enrolled in a post-secondary program can borrow up to $2000 per semester to help fund their higher education pursuits. The maximum number of loans an individual student can receive is eight during the course of their post-secondary education. Furthermore, the loans can go toward any education level including programs for an associate’s degree, bachelor’s degree or graduate degree. 

Loans are interest-free while a student is in school full time, and repayment begins 6 months after graduation or termination of full-time enrollment.

Since our founding, HHMF has issued more than $4.1 million in student loans to Red Wing Public Schools graduates, and. we have a repayment rate of 99.2%.

To qualify for an HHMF student loan, you must meet the following criteria:

• Be a Red Wing or Tower View Alternative High School graduate with at least a 2.0 GPA

• Be a full-time student pursuing an associate’s degree, bachelor’s degree or graduate degree

• Maintain at least a 2.0 GPA in your higher education program

Repayment begins 6 months after graduation or termination of full time enrollment, at which point interest begins to accrue at a rate of 6%. Students must begin making payments on their loan no later than seven years after the date of their initial enrollment in post-secondary education. 

HHMF works to make it as easy as possible for qualified students to apply for a loan. Here is how to apply:

• Fill out an application form to begin the process (Links for new and returning student application forms are at the top of the page).

• Spring semester applicants must apply in December of each year & fall semester applicants must apply in June of each year. Students can apply for up to two loans per year (for a maximum of eight loans) while enrolled as a full time student. 

• Attend an in-person loan meeting with two HHMF board members in either June or December. Our website will post those meeting dates and location as they are announced. At this meeting, you will share your future educational plans with HHMF board members and receive their signatures on your application. DON’T FORGET to bring your completed application and your most recent transcript to the meeting. 

• Following approval, you’ll sign a promissory note - a legally binding agreement that states your loan repayment responsibilities. 

• Finally, you will receive a loan check, made out to your higher education institution. This check can be given to your school’s financial office.

Spring semester applicants must apply in December of each year, and fall semester applicants must apply in June. 

The window to apply for 2025 spring semester loans is currently closed. Stay tuned for June 2025 dates and information to apply for loans to fund your fall 2025 semester!

If you need a loan application form submitted outside interview dates, please click here to send an email to the board. We will do our best to work with you and find an alternative time for an interview.

Congratulations on your graduation! Here is what’s next. 

Two months after graduation, loan recipients will receive an email with an amortization schedule and repayment information, with another reminder four months after graduation. Six months after graduation, your first payment will be due. 

Loan payments must be made by the 15th of each month in the form of a check made out to the Hedin Hartnagel Memorial Fund. Checks can be mailed to PO Box 222, Red Wing, MN 55066. Alternatively, some banks offer bill pay where you can have your bank create and mail a check each month - their version of autopay. Talk to your bank to set this up directly with them. 

Students are welcome to make additional payments or pay larger than the minimum monthly payment to help pay their loan off faster. 

When you have less than $1,000 left on your principal balance, you will receive an email alert. Remember to stop auto payments if you have them set up as you near the end of your loan payments. 

Once your loan is fully repaid, you will receive an email confirmation of your paid in full status. You can decide to have your original promissory notes mailed to you, or you can authorize us to shred them for you, whichever you prefer.