Understanding Supplemental Security Income
SSI Spotlight on Loans
2008 Edition

A loan is anything you receive from someone that you agree to pay for at a later date. You can make the agreement with a lending institution such as a bank, or an individual, such as a friend or relative. You can make it orally or in writing, but it must be enforceable under State law.

A loan can be:

	cash;
	food; or
	shelter items (rent, mortgage, utility bills, etc.).

If you enter into a valid loan agreement, the value of the cash or item you receive is not incomeincome and does not reduce your SSI benefit. However, any funds that you borrow which you do not spend in that month will count toward your SSI resourceresource limit of $2,000 (or $3,000 for a couple) the next month.

If you lend money to someone else, the money they owe you may be a countable resourceresource and may affect your eligibility for SSI benefits.

If you lend money to someone else, and we count the loan agreement as a resourceresource, then we do not count the interest you receive as incomeincome.