Hedin-Hartnagel Memorial Fund Post-Secondary Loan Information
Loans are interest free while the student is actively participating full time in school and repayment begins 6 months after graduation or termination of school. Interest begins to accrue, at a rate of 6%, when payments begin. Students must begin making repayments no later than seven years from the date of their initial enrollment in post-secondary education.
The loan recipient must be a Red Wing High School graduate, maintain a 2.0 GPA (C average or better) and take/earn at least 12 credits in order to be eligible for a loan.
The Hedin-Hartnagel Memorial Fund, Inc. lends money to Red Wing High School graduates for post-secondary education. There will be 65 loans granted twice a year in June and December. A student may borrow up to $1,050.00 per semester and up to $3,000.00 per year for education expenses. The maximum amount the Fund will lend to each individual student is $12,000.00 during the course of his/her continuing education. Students need to set up an interview for each semester to obtain a loan.
Loans are interest free while the student is actively participating full time in school and repayment begins 6 months after graduation or termination of school. Interest begins to accrue, at a rate of 6%, when payments begin. Payment/interest on loans may be deferred for up to seven years from the date of the first loan, if the student continues their full time (12 credits) education or attending grad school taking at least six grad school credits.
Loan recipient must be a Red Wing High School graduate. The student is required to maintain a 2.0 GPA (C average or better) and take at least 12 credits to be eligible for a loan.
Student must contact the Executive Secretary with any address/email changes, and after graduation or termination of school, to set up payment schedule.
Executive Secretary, HHMFI
The Hedin-Hartnagel Memorial Fund has the potential to help enhance the quality of life in our community which might not be provided through other channels by allowing students to obtain loans for secondary education.
Individuals, organizations, and corporations provide support, lending a unique characteristic to the Fund.
A gift to the Hedin-Hartnagel Memorial Fund is a meaningful type of remembrance. Contributions perpetuate the generous, humanitarian spirit in which Dr. Hedin and Dr. Hartnagel enriched the quality of life in the Red Wing community.