Now that SallieMae buy-out deal has crumbled and they’re facing much higher borrowing costs due to the subprime fiasco, the unpopular student lender will shed 3% of its workforce, or 350 jobs, mostly CSRs at their call centers.

We know a lot of you really, really, really hate SallieMae, but remember not to drink and drive when celebrating other people’s misfortunes, mmk? [CNNMoney]

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  1. glass says:

    I just got out of their clutches recently, after paying them for about six years.

    Burn in Hell, SallieMae.

  2. rhombopteryx says:

    Sweeeeet! Now they won’t have anyone to answer the phone when you call and ask why they overcharged you. That’s a sure fire way to make up some of the $ they must need. Maybe they should fire their interest rate calculators next, and just bill everyone $680. It’s not like you could call anyone to complain.

  3. glass says:

    @rhombopteryx: “Now they won’t have anyone to answer the phone when you call and ask why they overcharged you.”

    as opposed to before?

  4. KarmaChameleon says:

    I have to deal with these sumbitches on the daily as part of my job. Their CSRs make the ones at Comcast look competent.

  5. HRHKingFriday says:

    for what its worth, the one time I called a sallie mae call center, the woman was honest to god the nicest person i’d ever met. i figured it was because of the ridiculous rates they were offering me (which i declined).

    its also sad to think about how many small town’s economies depend almost entirely on call centers.

  6. Oh crud. My girlfriend just started with payments to her student loan with SallieMae. Should she be worried?