My cocker spaniel, Peppi, was put on steroids for allergies. She would lose her hair and we had tried literally everything to help her. The vet said that the steroids would not hurt her and she would be on them for only a short time. They helped her alot, they did not harm her and she only needed to be on them for a short time, it helped her even when she was off of them. When she got bad again, we would put her back on them, but it was not a long term use.
I would talk to your vet and get all the information you can on it and then decide from there on what to do. Good luck!!