Hannah, 18, made his Raith debut in the Challenge Cup fourth round in October before playing 45 minutes in the following round, drawing praise from his manager.
The full-back then made his league debut in the final minutes of the win in Inverness in December.
“We’re sending two of the younger boys out on loan,” said Raith manager Ian Murray.
“It’s really important for these boys that they go and get games.”
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Raith Rovers duo head out for Lowland League loan stints
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