Whenever you are applying for credit, such as a student loan, the lender will do a “hard” credit check to determine your credit worthiness. This hard credit check will reduce your credit score slightly.
However, if you demonstrate consistency of on-time payment of your student loan, this is positive for your payment history component of your credit score and should improve it.
Note that with a student loan, you have assumed additional debt. This will affect your debt-to-income ratio. Lenders review this percentage to determine whether your available income allows you to pay off the debts that you have.