https://github.com/thebnich/FloatingHintEditText kind of works with appcompat-v7 v21.0.0, but since v21.0.0 does not support accent colors with subclasses of EditText, the underline of the FloatingHintEditText will be the default solid black or white. Also the padding is not optimized for the Material style EditText, so you may need to adjust it.
Than, call setHint on TextInputLayout just after setContentView call because, to animate the floating label, you just need to set a hint, using the setHint method.
final TextInputLayout usernameWrapper = (TextInputLayout) findViewById(R.id.usernameWrapper);
usernameWrapper.setHint("Username");
For an easier way to use the InputTextLayout, I have created this library that cuts your XML code to less than the half, and also provides you with the ability to set an error message as well as a hint message and an easy way to do your validations.
https://github.com/TeleClinic/SmartEditText