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)
                                DECEMBER 22, 2006


                                  NELNET, INC.
             (Exact name of registrant as specified in its charter)


            NEBRASKA                     001-31924             84-0748903
  ----------------------------          -----------         ----------------
  (State or other jurisdiction          (Commission         (I.R.S. 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) 458-2370
                                                   --------------

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 December 22, 2006, Nelnet, Inc. issued a press release
        announcing that the Government of Canada has notified EDULINX Canada
        Corporation, a subsidiary of Nelnet, that the Government of Canada has
        decided to award a competitive contract to provide financial and related
        administrative services in support of the Canada and Integrated Student
        Loan Programs ("CSLP") upon the expiration of the current EDULINX
        contract for such services to another service provider.

               Under its existing contract with the Government of Canada,
        EDULINX provides services for student borrowers attending public
        institutions. The Government of Canada is EDULINX's largest customer,
        and as previously disclosed, this contract is currently scheduled to
        expire on July 31, 2007 (the Government of Canada has the option to
        extend the existing contract to March 31, 2008). As a result of this
        decision, EDULINX will be required to transition the existing
        direct-financed CSLP portfolio it services to the selected service
        provider.

               EDULINX's servicing revenue for the nine-months ended September
        30, 2006 was $48.2 million (USD), of which $37.3 million (USD) was
        earned under the CSLP contract. For the nine-months ended September 30,
        2006, EDULINX contributed $3.7 million (USD), or $0.07 per share, to
        Nelnet's consolidated net income earned under generally accepted
        accounting principles ("GAAP").

               In addition to evaluating the Company's GAAP-based financial
        information, management also evaluates the Company on certain non-GAAP
        performance measures referred to as base net income. Base net income as
        defined by Nelnet is GAAP net income excluding derivative market value,
        foreign currency, and put option adjustments, the amortization of
        intangible assets, non-cash stock based compensation related to business
        combinations, and variable-rate floor income. While base net income is
        not a substitute for reported results under GAAP, the Company provides
        base net income as additional information regarding its financial
        results. Base net income is a non-GAAP financial measure and may not be
        comparable to similarly titled measures reported by other companies. The
        Company's base net income presentation does not represent another
        comprehensive basis of accounting. The difference between GAAP and base
        net income related to EDULINX's operating results is due to the
        amortization of certain EDULINX intangible assets.

               EDULINX contributed $4.3 million (USD), or $0.08 per share, to
        Nelnet's consolidated base net income for the nine-month period ended
        September 30, 2006.

               For the year ending December 31, 2006, the Company expects to
        earn approximately $65 million (USD) of servicing revenue from EDULINX.
        Of this amount, approximately $51 million (USD) is expected to be earned
        under the CSLP contract. In addition, Nelnet expects that approximately
        $5 million (USD), or $0.09 per share, and approximately $6 million
        (USD), or $0.11 per share, of Nelnet's GAAP and base net income for
        2006, respectively, will be contributed by EDULINX.

               A copy of the press release is attached as an exhibit to this
        Report.


<PAGE>

Item 2.06.  Material Impairments.
            --------------------

               As a result of the Government of Canada's decision to award the
        contract to provide financial and related administrative services for
        CSLP to another service provider as discussed in Item 8.01 above, Nelnet
        concluded that an impairment charge for certain EDULINX assets,
        including servicing software and hardware under development, intangible
        assets, and goodwill, was required under GAAP. This determination was
        made based upon the decision that Nelnet will no longer continue to
        develop a servicing platform for EDULINX and a comparison of the
        carrying amount of certain EDULINX intangible assets and goodwill with
        their fair value. Accordingly, the Company currently estimates that it
        will record a non-cash pre-tax impairment charge of $9 million (USD) to
        $10 million (USD) during the fourth quarter of 2006. The actual amount
        of the impairment charge recorded will not be known until the Company
        has finalized its determination of certain servicing hardware and
        software assets to be sold and prepared or obtained updated estimates.

                Under the current contract between EDULINX and the Government of
        Canada, EDULINX can earn performance incentive revenue if certain
        performance levels are achieved (as defined in the servicing contract).
        The current contract is for the period April 1, 2006 through July 31,
        2007. Based on EDULINX achieving certain performance objectives through
        December 31, 2006, the Company may recognize up to $5.0 million (USD)
        during the fourth quarter of 2006 related to the incentives under this
        contract. (This incentive revenue is not included in the 2006 revenue,
        GAAP net income, and base net income estimated projections discussed
        under Item 8.01 above). Additional incentive revenue could be recognized
        by EDULINX over the remaining term of this contract.

Item 9.01.  Financial Statements and Exhibits.
            ---------------------------------

               (d) Exhibits. The following exhibit is filed as part of this
        report:

        Exhibit
          No.                     Description
       -----------   -----------------------------------------------------------

          99.1       Press release dated December 22, 2006 - "Nelnet Statement
                     Regarding Canadian Student Loan Contract"

<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 hereunto duly authorized.

Dated:  December 22, 2006

                                            NELNET, INC.


                                            By:     /s/ TERRY J. HEIMES
                                                --------------------------------
                                                Name:   Terry J. Heimes
                                                Title:  Chief Financial Officer


<PAGE>



                                  EXHIBIT INDEX


Exhibit No.         Description
-----------         -----------
99.1                Press Release dated December 22, 2006 - "Nelnet Statement
                    Regarding Canadian Student Loan Contract"
[{"type": "8-K", "sequence": "1", "filename": "inc8k.txt", "secsgml_size_bytes": 9001}]
{"company-data": {"conformed-name": "NELNET INC", "cik": "0001258602", "assigned-sic": "6153", "irs-number": "840748903", "state-of-incorporation": "NE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31924", "film-number": "061295349"}, "business-address": {"street1": "121 SOUTH 13TH ST", "street2": "STE 201", "city": "LINCOLN", "state": "NE", "zip": "68508", "phone": "402-458-2370"}, "mail-address": {"street1": "121 SOUTH 13TH ST", "street2": "STE 201", "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)
                                DECEMBER 22, 2006

                                  NELNET, INC.
             (Exact name of registrant as specified in its charter)

            NEBRASKA                     001-31924             84-0748903
  ----------------------------          -----------         ----------------
  (State or other jurisdiction          (Commission         (I.R.S. 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) 458-2370
                                                   --------------

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 December 22, 2006, Nelnet, Inc. issued a press release
        announcing that the Government of Canada has notified EDULINX Canada
        Corporation, a subsidiary of Nelnet, that the Government of Canada has
        decided to award a competitive contract to provide financial and related
        administrative services in support of the Canada and Integrated Student
        Loan Programs ("CSLP") upon the expiration of the current EDULINX
        contract for such services to another service provider.

               Under its existing contract with the Government of Canada,
        EDULINX provides services for student borrowers attending public
        institutions. The Government of Canada is EDULINX's largest customer,
        and as previously disclosed, this contract is currently scheduled to
        expire on July 31, 2007 (the Government of Canada has the option to
        extend the existing contract to March 31, 2008). As a result of this
        decision, EDULINX will be required to transition the existing
        direct-financed CSLP portfolio it services to the selected service
        provider.

               EDULINX's servicing revenue for the nine-months ended September
        30, 2006 was $48.2 million (USD), of which $37.3 million (USD) was
        earned under the CSLP contract. For the nine-months ended September 30,
        2006, EDULINX contributed $3.7 million (USD), or $0.07 per share, to
        Nelnet's consolidated net income earned under generally accepted
        accounting principles ("GAAP").

               In addition to evaluating the Company's GAAP-based financial
        information, management also evaluates the Company on certain non-GAAP
        performance measures referred to as base net income. Base net income as
        defined by Nelnet is GAAP net income excluding derivative market value,
        foreign currency, and put option adjustments, the amortization of
        intangible assets, non-cash stock based compensation related to business
        combinations, and variable-rate floor income. While base net income is
        not a substitute for reported results under GAAP, the Company provides
        base net income as additional information regarding its financial
        results. Base net income is a non-GAAP financial measure and may not be
        comparable to similarly titled measures reported by other companies. The
        Company's base net income presentation does not represent another
        comprehensive basis of accounting. The difference between GAAP and base
        net income related to EDULINX's operating results is due to the
        amortization of certain EDULINX intangible assets.

               EDULINX contributed $4.3 million (USD), or $0.08 per share, to
        Nelnet's consolidated base net income for the nine-month period ended
        September 30, 2006.

               For the year ending December 31, 2006, the Company expects to
        earn approximately $65 million (USD) of servicing revenue from EDULINX.
        Of this amount, approximately $51 million (USD) is expected to be earned
        under the CSLP contract. In addition, Nelnet expects that approximately
        $5 million (USD), or $0.09 per share, and approximately $6 million
        (USD), or $0.11 per share, of Nelnet's GAAP and base net income for
        2006, respectively, will be contributed by EDULINX.

               A copy of the press release is attached as an exhibit to this
        Report.
Item 2.06.  Material Impairments.
            --------------------

               As a result of the Government of Canada's decision to award the
        contract to provide financial and related administrative services for
        CSLP to another service provider as discussed in Item 8.01 above, Nelnet
        concluded that an impairment charge for certain EDULINX assets,
        including servicing software and hardware under development, intangible
        assets, and goodwill, was required under GAAP. This determination was
        made based upon the decision that Nelnet will no longer continue to
        develop a servicing platform for EDULINX and a comparison of the
        carrying amount of certain EDULINX intangible assets and goodwill with
        their fair value. Accordingly, the Company currently estimates that it
        will record a non-cash pre-tax impairment charge of $9 million (USD) to
        $10 million (USD) during the fourth quarter of 2006. The actual amount
        of the impairment charge recorded will not be known until the Company
        has finalized its determination of certain servicing hardware and
        software assets to be sold and prepared or obtained updated estimates.

                Under the current contract between EDULINX and the Government of
        Canada, EDULINX can earn performance incentive revenue if certain
        performance levels are achieved (as defined in the servicing contract).
        The current contract is for the period April 1, 2006 through July 31,
        2007. Based on EDULINX achieving certain performance objectives through
        December 31, 2006, the Company may recognize up to $5.0 million (USD)
        during the fourth quarter of 2006 related to the incentives under this
        contract. (This incentive revenue is not included in the 2006 revenue,
        GAAP net income, and base net income estimated projections discussed
        under Item 8.01 above). Additional incentive revenue could be recognized
        by EDULINX over the remaining term of this contract.

Item 9.01.  Financial Statements and Exhibits.
            ---------------------------------

               (d) Exhibits. The following exhibit is filed as part of this
        report:

        Exhibit
          No.                     Description
       -----------   -----------------------------------------------------------

          99.1       Press release dated December 22, 2006 - "Nelnet Statement
                     Regarding Canadian Student Loan Contract"
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 hereunto duly authorized.

Dated:  December 22, 2006

                                            NELNET, INC.

                                            By:     /s/ TERRY J. HEIMES
                                                --------------------------------
                                                Name:   Terry J. Heimes
                                                Title:  Chief Financial Officer
EXHIBIT INDEX

Exhibit No.         Description
-----------         -----------
99.1                Press Release dated December 22, 2006 - "Nelnet Statement
                    Regarding Canadian Student Loan Contract"