"JPMorgan Chase & Co, one of the largest U.S. student lenders, on Monday said it will cut rates and fees on some student loans, as market disruptions and a new federal law cause some rivals to cut back," Reuters reports. "Chase Education Finance said it will waive the origination fee on Stafford loans and the 1 percent default fee on Stafford, Parent PLUS and Grad PLUS loans. It said it will also reduce the interest rate on all three loans by one-tenth of a percentage point if it makes, services and retains the loans. The changes apply to new loans Chase makes and plans to retain between Dec. 1, 2007, and June 30, 2009, Chase said."