What is the process of making a TSP loan?

To make a Thrift Savings Plan (TSP) loan, a participant must first ensure they are eligible by having a vested balance in their account. They can then submit a loan application through the TSP website or by contacting their agency's human resources office. The application requires specifying the loan amount and type (general purpose or residential). Upon approval, the loan amount is disbursed, and repayments are deducted from the participant's paycheck over a set period.