UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of earliest event reported)   May 22, 2007
                                                   ------------

                Nelnet Student Loan Trust 2007-1, Issuing Entity
             (Exact name of registrant as specified in its charter)
                   Nelnet Student Loan Funding, LLC, Depositor
                              Nelnet, Inc., Sponsor

            Delaware                333-128658-03                75-2997993
            --------                -------------                ----------
  (State of other jurisdiction       (Commission               (IRS Employer
       of incorporation)             File Number)           Identification No.)


121 South 13th Street, Suite 201, Lincoln, Nebraska              68508
--------------------------------------------------------------------------------
       (Address of principal executive offices)                 (Zip Code)

Registrant's telephone number, including area code (402) 434-7140
                                                   -----------------------------


         (Former name or former address, if changes since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]     Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR230.425)

[ ]     Soliciting material pursuant to Rule 14a-12 under the Exchange
        Act (17 CFR240.14a-12)

[ ]     Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR240.14(d)-2(b))

[ ]     Pre-commencement communications pursuant to Rule 13e-4(c) un the
        Exchange Act (17 CFR240.13e-4(c))


<PAGE>


ITEM 9.01  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

In connection with the issuance of student loan asset-backed notes by Nelnet
Student Loan Funding Trust 2007-1, the opinions of Kutak Rock LLP and the
opinion and consent of Richards, Layton & Finger, P.A., are attached.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits:

5.1     Opinion of Kutak Rock LLP, dated as of May 22, 2007, with respect to due
        authorization, enforceability and legality of the Notes (filed
        herewith).

5.2     Opinion of Richards, Layton & Finger, P.A., dated as of May 22, 2007
        with respect to due authorization of the notes (filed herewith).

8.1     Opinion of Kutak Rock LLP, dated as of May 22, 2007, with respect to
        certain federal income tax matters (contained in Exhibit 5.1).

23.1    Consent of Richards, Layton & Finger, P.A., dated as of May 22, 2007
        (filed herewith).

23.2    Consent of Kutak Rock LLP, dated as of May 22, 2007 (filed herewith).





<PAGE>




                                   SIGNATURES


        Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                      NELNET STUDENT LOAN TRUST 2007-1

                                      By: NELNET STUDENT LOAN FUNDING, LLC,
                                          Depositor


                                      By: NELNET STUDENT LOAN FUNDING MANAGEMENT
                                          CORPORATION, as Manager



                                      By: /s/ Jeffrey R. Noordhoek
                                      ------------------------------------------
                                          Jeffrey R. Noordhoek
                                          Vice President

 Dated:  May 22, 2007


<PAGE>


                                  EXHIBIT INDEX



               Exhibit
               -------

(5.1)   Opinion regarding due authorization, enforceability and legality of the
        notes and certain federal income tax matters

(5.2)   Opinion regarding due authorization of the notes

(23.1)  Consent of Richards, Layton & Finger, P.A.

(23.2)  Consent of Kutak Rock LLP
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{"company-data": {"conformed-name": "Nelnet Student Loan Trust 2007-1", "cik": "0001397813", "assigned-sic": "6189"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-128658-04", "film-number": "07870537"}, "business-address": {"street1": "1215 13TH ST", "street2": "SUITE 301", "city": "LINCOLN", "state": "NE", "zip": "68508", "phone": "4024239583"}, "mail-address": {"street1": "1215 13TH ST.", "street2": "SUITE 301", "city": "LINCOLN", "state": "NE", "zip": "68508"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)   May 22, 2007
                                                   ------------

                Nelnet Student Loan Trust 2007-1, Issuing Entity
             (Exact name of registrant as specified in its charter)
                   Nelnet Student Loan Funding, LLC, Depositor
                              Nelnet, Inc., Sponsor

            Delaware                333-128658-03                75-2997993
            --------                -------------                ----------
  (State of other jurisdiction       (Commission               (IRS Employer
       of incorporation)             File Number)           Identification No.)

121 South 13th Street, Suite 201, Lincoln, Nebraska              68508
--------------------------------------------------------------------------------
       (Address of principal executive offices)                 (Zip Code)

Registrant's telephone number, including area code (402) 434-7140
                                                   -----------------------------

         (Former name or former address, if changes since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]     Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR230.425)

[ ]     Soliciting material pursuant to Rule 14a-12 under the Exchange
        Act (17 CFR240.14a-12)

[ ]     Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR240.14(d)-2(b))

[ ]     Pre-commencement communications pursuant to Rule 13e-4(c) un the
        Exchange Act (17 CFR240.13e-4(c))
ITEM 9.01  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

In connection with the issuance of student loan asset-backed notes by Nelnet
Student Loan Funding Trust 2007-1, the opinions of Kutak Rock LLP and the
opinion and consent of Richards, Layton & Finger, P.A., are attached.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits:

5.1     Opinion of Kutak Rock LLP, dated as of May 22, 2007, with respect to due
        authorization, enforceability and legality of the Notes (filed
        herewith).

5.2     Opinion of Richards, Layton & Finger, P.A., dated as of May 22, 2007
        with respect to due authorization of the notes (filed herewith).

8.1     Opinion of Kutak Rock LLP, dated as of May 22, 2007, with respect to
        certain federal income tax matters (contained in Exhibit 5.1).

23.1    Consent of Richards, Layton & Finger, P.A., dated as of May 22, 2007
        (filed herewith).

23.2    Consent of Kutak Rock LLP, dated as of May 22, 2007 (filed herewith).
SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                      NELNET STUDENT LOAN TRUST 2007-1

                                      By: NELNET STUDENT LOAN FUNDING, LLC,
                                          Depositor

                                      By: NELNET STUDENT LOAN FUNDING MANAGEMENT
                                          CORPORATION, as Manager

                                      By: /s/ Jeffrey R. Noordhoek
                                      ------------------------------------------
                                          Jeffrey R. Noordhoek
                                          Vice President

 Dated:  May 22, 2007
EXHIBIT INDEX

               Exhibit
               -------

(5.1)   Opinion regarding due authorization, enforceability and legality of the
        notes and certain federal income tax matters

(5.2)   Opinion regarding due authorization of the notes

(23.1)  Consent of Richards, Layton & Finger, P.A.

(23.2)  Consent of Kutak Rock LLP