A loan is something you receive from someone with the agreement to pay it back at a later time. It can be in the form of cash, food, or shelter-related items like rent or utility bills.

When you enter a valid loan agreement, the value of what you receive is not considered income and won't reduce your Supplemental Security Income (SSI) benefit. However, any money you borrow but don't spend in a given month will count towards your SSI resource limit in the following month.

If you lend money to someone, the money they owe you may be counted as a resource, which could affect your SSI eligibility.

For more information, call 1-800-772-1213 (TTY 1-800-325-0778), or visit the Social Security Administration website.

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Last Reviewed: October 19, 2023