Bush administration pledges help for student loans

WASHINGTON, Oct 10 (Reuters) - The Bush administration said on Friday it would take further steps to support the student loan market for the 2009-2010 school year.

In a joint statement, U.S. Treasury Secretary Henry Paulson and Education Secretary Margaret Spellings said they would soon announce steps to address challenges hampering student lenders and borrowers.

"Using our newly extended authorities, the administration is moving aggressively to support the continued availability of funding for federal student loans in the next school year with the goal of restoring the government guaranteed student loan market to normal operations," they said in a statement. (Reporting by David Lawder; Editing by James Dalgleish)