Some types of income affect your SSI check. In fact, you do not need to read the rest of this page. The loan does not need to be used for educational expenses. Many students use loans to pay for food, housing, transportation, or other other expenses while they are in school. If you already have student loans and you are having difficulty, there are some programs that assist people who are low-income or disabled. Check out: How to Escape Student Loans. Any money used for other purposes, may or may not affect SSI. It will depend on where the funds came .