"Sallie Mae, the nation's largest student loan company, is closing part of its Mount Laurel branch and has notified 160 employees that their jobs would be eliminated," the Burlington County Times reports. "The company is halting its loan collection operation at its branch on Commerce Parkway on July 1, according to Martha Holler, a spokesperson for Sallie Mae. The Mount Laurel employees received 60 days notice and will receive severance benefits, Holler said. The company also is providing relocation assistance to employees who are qualified for positions at other Sallie Mae locations, Holler said. Holler said the company is restructuring its business in response to the impact of the College Cost Reduction and Access Act and current challenges in capital markets."