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]