Loan Questions

[jerry otero]

I am getting some conflicting answers from the Thrift Line. Maybe someone out there could help. These questions are related to the Loan Program.

1. Does the intrest and principle on the loan go back into my account.

2. Can I still get to contribute money into my TSP account while the loan is in effect.

3. Can I repay the loan say 50.000 in a lump sum back into my account.

 

[GatorinGA]

1. Yes, the principal and interest goes back into your TSP account.

2. Yes, your normal contributions will be taken out of your check along with the new loan payments.

3. Yes, you can make lump sum payments, that is outlined on the loan repayment page at tsp.gov. You can also change how much comes out of each check to pay it back sooner.