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            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">UNITED STATES</font></b></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="2">Washington, D.C. 20549</font></b></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="3">FORM 8-K</font></b></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">CURRENT REPORT</font></b></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="2">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Date of Report (Date of earliest event reported)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><u><font size="2">October 13, 2009</font></u></p>
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            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><u><font size="2">Nelnet, Inc.</font></u></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">(Exact name of registrant as specified in its charter)</font></p>

            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

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                            <p style="TEXT-ALIGN: center; TEXT-INDENT: 0in" align="center"><u><font size="2">Nebraska</font></u><br>
                            <font size="2">(State or other jurisdiction </font><br>
                            <font size="2">of incorporation)</font></p>
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                            <p style="TEXT-ALIGN: center; TEXT-INDENT: 0in" align="center"><u><font size="2">001-31924</font></u><br>
                            <font size="2">(Commission</font><br>
                            <font size="2">File Number)</font></p>
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                            <p style="TEXT-ALIGN: center; TEXT-INDENT: 0in" align="center"><u><font size="2">84-0748903</font></u><br>
                            <font size="2">(IRS Employer </font><br>
                            <font size="2">Identification No.)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><u><font size="2">121 South 13<sup>th</sup> Street, Suite 201, Lincoln, Nebraska</font></u></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><u><font size="2">68508 </font></u></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">(Address of principal executive offices)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">(Zip Code)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Registrant&rsquo;s telephone number, including area code</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><u><font size="2">(402) 458-2370</font></u></p>
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            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><font size="2">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:</font></p>

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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2"><font face="Wingdings">o</font></font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2"><font face="Wingdings">o</font></font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2"><font face="Wingdings">o</font></font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</font></p>
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            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="2">Item 8.01 Other Events.</font></b></p>

            <p style="TEXT-ALIGN: justify; MARGIN-TOP: 0pt; TEXT-INDENT: 0.5in; MARGIN-BOTTOM: 10pt"><font size="2">On October 13, 2009, Nelnet Student Loan Funding, LLC (&ldquo;NSLF&rdquo;), a subsidiary of Nelnet, Inc. (the &ldquo;Company&rdquo; or &ldquo;Nelnet&rdquo;), filed a free-writing prospectus (the &ldquo;Prospectus&rdquo;) with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) in connection with a proposed offering of student loan asset-backed notes to be issued by
            Nelnet Student Loan Trust 2009-2 pursuant to an effective registration statement previously filed by NSLF with the SEC (File No. 333-144431). The Prospectus contains information under the caption &ldquo;The Student Loan Operations of Nelnet Student Loan Trust 2009-2 - Nelnet, Inc. - Recent Developments - Federal False Claims Act Lawsuit&rdquo; about a complaint in a Federal False Claims Act proceeding that was previously served on the Company. The Complaint was unsealed and made
            publicly available on August 24, 2009. The Complaint stems from 9.5% Floor payments received by the Company. These payments were disclosed by the Company beginning in 2003. The Company disagrees with the allegations in the Complaint and believes the related issues were resolved when the Company entered into a Settlement Agreement with the&nbsp;Department of Education in January 2007. The Settlement Agreement contains an acknowledgment by the Department of Education that Nelnet acted
            in good faith in connection with its billings for 9.5% Floor payments. Such information is set forth in Exhibit 99.1 to this report and is incorporated by reference herein for the sole purpose of providing corresponding disclosure of such information by the Company under the Securities Exchange Act of 1934.</font></p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0.5in; MARGIN-BOTTOM: 12pt"><font size="2">Information other than historical facts contained in this report may be considered forward looking in nature and is subject to various risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or expected. Among the key
            factors that may have a direct bearing on the Company&rsquo;s operating results, performance, or financial condition expressed or implied by the forward-looking statements herein are the pending nature of the legal proceeding reported herein and its initial stage as to the Company, and other matters discussed in the Risk Factors section of the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent Quarterly Reports on Form 10-Q filed with the
            SEC. Although the Company may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.</font></p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="2">Item 9.01 Financial Statements and Exhibits.</font></b></p>

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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">(d)</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Exhibits. The following exhibit is filed as part of this report:</font></p>
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                            <p style="TEXT-ALIGN: center; TEXT-INDENT: 0in; MARGIN-BOTTOM: 0in" align="center"><font size="2">Exhibit</font><br>
                            <font size="2">No.</font></p>
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                            <p style="TEXT-INDENT: 0in; MARGIN: 1pt 0in 0in">&nbsp;</p>

                            <p style="TEXT-INDENT: 0in; MARGIN: 1pt 0in 0in" align="center"><font size="2">Description</font></p>
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                            &nbsp;</p>
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            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information in the Prospectus under the caption <font size="2">&ldquo;The Student Loan Operations of </font></font></p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nelnet <font size="2">Student Loan Trust 2009-2 - Nelnet, Inc. - Recent Developments - Federal </font></font></font></p>

            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2"><font size="2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; False Claims Act Lawsuit&rdquo;</font></font></font></p>

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                                <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><a name="PAGENUM"><font size="2">2</font></a></p>
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            <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt"><b><font size="2">SIGNATURES</font></b></p>

            <p style="TEXT-ALIGN: justify; MARGIN-TOP: 0pt; TEXT-INDENT: 0.5in; MARGIN-BOTTOM: 12pt"><font size="2">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.</font></p>

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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Dated: October 13, 2009</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">NELNET, INC.</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">By:</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><u><font size="2">/s/ TERRY J. HEIMES</font></u></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Name: Terry J. Heimes</font></p>
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                            <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt"><font size="2">Title: Chief Financial Officer</font></p>
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{"company-data": {"conformed-name": "NELNET INC", "cik": "0001258602", "assigned-sic": "6141", "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": "091116749"}, "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)
October 13, 2009
Nelnet, Inc.
(Exact name of registrant as specified in its charter)
Nebraska
(State or other jurisdiction
of incorporation)
001-31924
(Commission
File Number)
84-0748903
(IRS Employer
Identification No.)
121 South 13
th
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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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 October 13, 2009, Nelnet Student Loan Funding, LLC ("NSLF"), a subsidiary of Nelnet, Inc. (the "Company" or "Nelnet"), filed a free-writing prospectus (the "Prospectus") with the Securities and Exchange Commission (the "SEC") in connection with a proposed offering of student loan asset-backed notes to be issued by
            Nelnet Student Loan Trust 2009-2 pursuant to an effective registration statement previously filed by NSLF with the SEC (File No. 333-144431). The Prospectus contains information under the caption "The Student Loan Operations of Nelnet Student Loan Trust 2009-2 - Nelnet, Inc. - Recent Developments - Federal False Claims Act Lawsuit" about a complaint in a Federal False Claims Act proceeding that was previously served on the Company. The Complaint was unsealed and made
            publicly available on August 24, 2009. The Complaint stems from 9.5% Floor payments received by the Company. These payments were disclosed by the Company beginning in 2003. The Company disagrees with the allegations in the Complaint and believes the related issues were resolved when the Company entered into a Settlement Agreement with the Department of Education in January 2007. The Settlement Agreement contains an acknowledgment by the Department of Education that Nelnet acted
            in good faith in connection with its billings for 9.5% Floor payments. Such information is set forth in Exhibit 99.1 to this report and is incorporated by reference herein for the sole purpose of providing corresponding disclosure of such information by the Company under the Securities Exchange Act of 1934.
Information other than historical facts contained in this report may be considered forward looking in nature and is subject to various risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or expected. Among the key
            factors that may have a direct bearing on the Company's operating results, performance, or financial condition expressed or implied by the forward-looking statements herein are the pending nature of the legal proceeding reported herein and its initial stage as to the Company, and other matters discussed in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent Quarterly Reports on Form 10-Q filed with the
            SEC. Although the Company may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits. The following exhibit is filed as part of this report:
Exhibit
No.
Description
99.1                  Information in the Prospectus under the caption
"The Student Loan Operations of
Nelnet
Student Loan Trust 2009-2 - Nelnet, Inc. - Recent Developments - Federal
False Claims Act Lawsuit"
2
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: October 13, 2009
NELNET, INC.
By:
/s/ TERRY J. HEIMES
Name: Terry J. Heimes
Title: Chief Financial Officer
3