SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                      -----

                                    FORM 8-K

                                 CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15 (d)

                          OF THE SECURITIES ACT OF 1934

         Date of Report (date of earliest event reported) August 25, 2004
                                                          ---------------


                        Nelnet Education Loan Funding, Inc.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

                Issuer of the Nelnet Education Loan Funding 2004-1




           Nebraska                 333-104736                  47-0809600
------------------------------       ---------                  ----------
(State of other jurisdiction        (Commission                (IRS Employer
of incorporation)                   File Number)                ID  Number)


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


Registrant's Telephone Number,
Including area code:                                         (402) 458-2300
                                                             --------------

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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))

<PAGE>

Item 8.01. Other Events

        On August 25, 2004, Nelnet Education Loan Funding Series 2004-1 (the
"Trust") made its regular quarterly distribution of funds to holders of its
student loan asset-backed notes. In connection therewith the Trust distributed
to noteholders of record an Administrator's Distribution Date Certificate
pursuant to the Indenture of Trust dated as of January 1, 2004, among the
Issuer, Nelnet Education Loan Funding, Inc., and Wells Fargo Bank Minnesota,
National Association, as Indenture Trustee, and Wells Fargo Bank Minnesota,
National Association, as Eligible Lender Trustee. The Administrator's
Distribution Date Certificate included in this Form 8-K provides information
relating to the Notes and the applicable distributions of funds in the
Collection Fund held by the Indenture Trustee that occurred on the August 25,
2004 Distribution Date.

Item 9.01. Financial Statements and Exhibits.

     (a)  Not applicable.

     (b)  Not applicable.

     (c)  Exhibits:

     19.1 Administrator's Distribution Date Certificate for the August 25, 2004
          Distribution Date is 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 EDUCATION LOAN
                                       FUNDING, INC.

                                       By: /s/ Terry J. Heimes
                                         -----------------------------------
                                          Terry J. Heimes
                                          President

Dated:  August 25, 2004

<PAGE>


                                  EXHIBIT INDEX



               Exhibit
               -------


(19.1)   Administrator's Distribution Date Certificate
[{"type": "8-K", "sequence": "1", "filename": "n8k-1.txt", "secsgml_size_bytes": 3991}]
{"company-data": {"conformed-name": "NELNET EDUCATION LOAN FUNDING INC", "cik": "0001228874", "assigned-sic": "6189", "irs-number": "470809600", "state-of-incorporation": "NE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-104736", "film-number": "041007750"}, "business-address": {"street1": "121 S 13TH STREET STE 201", "city": "LINCOLN", "state": "NE", "zip": "68508", "phone": "4024582303"}, "mail-address": {"street1": "121 S 13TH STREET STE 201", "city": "LINCOLN", "state": "NE", "zip": "68509"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                      -----

                                    FORM 8-K

                                 CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15 (d)

                          OF THE SECURITIES ACT OF 1934

         Date of Report (date of earliest event reported) August 25, 2004
                                                          ---------------

                        Nelnet Education Loan Funding, Inc.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

                Issuer of the Nelnet Education Loan Funding 2004-1

           Nebraska                 333-104736                  47-0809600
------------------------------       ---------                  ----------
(State of other jurisdiction        (Commission                (IRS Employer
of incorporation)                   File Number)                ID  Number)

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

Registrant's Telephone Number,
Including area code:                                         (402) 458-2300
                                                             --------------

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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events

        On August 25, 2004, Nelnet Education Loan Funding Series 2004-1 (the
"Trust") made its regular quarterly distribution of funds to holders of its
student loan asset-backed notes. In connection therewith the Trust distributed
to noteholders of record an Administrator's Distribution Date Certificate
pursuant to the Indenture of Trust dated as of January 1, 2004, among the
Issuer, Nelnet Education Loan Funding, Inc., and Wells Fargo Bank Minnesota,
National Association, as Indenture Trustee, and Wells Fargo Bank Minnesota,
National Association, as Eligible Lender Trustee. The Administrator's
Distribution Date Certificate included in this Form 8-K provides information
relating to the Notes and the applicable distributions of funds in the
Collection Fund held by the Indenture Trustee that occurred on the August 25,
2004 Distribution Date.

Item 9.01. Financial Statements and Exhibits.

     (a)  Not applicable.

     (b)  Not applicable.

     (c)  Exhibits:

     19.1 Administrator's Distribution Date Certificate for the August 25, 2004
          Distribution Date is 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 EDUCATION LOAN
                                       FUNDING, INC.

                                       By: /s/ Terry J. Heimes
                                         -----------------------------------
                                          Terry J. Heimes
                                          President

Dated:  August 25, 2004
EXHIBIT INDEX

               Exhibit
               -------

(19.1)   Administrator's Distribution Date Certificate