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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 SM1dBxMTZRfLHQfIopfiKg==

<SEC-DOCUMENT>0001005477-05-002181.txt : 20050616
<SEC-HEADER>0001005477-05-002181.hdr.sgml : 20050615
<ACCEPTANCE-DATETIME>20050616141012
ACCESSION NUMBER:		0001005477-05-002181
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050615
FILED AS OF DATE:		20050616
DATE AS OF CHANGE:		20050616

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NELNET INC
		CENTRAL INDEX KEY:			0001258602
		STANDARD INDUSTRIAL CLASSIFICATION:	PERSONAL CREDIT INSTITUTIONS [6141]
		IRS NUMBER:				840748903
		STATE OF INCORPORATION:			NE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		121 SOUTH 13TH ST
		STREET 2:		STE 201
		CITY:			LINCONLN
		STATE:			NE
		ZIP:			68508

	MAIL ADDRESS:	
		STREET 1:		121 SOUTH 13TH ST
		STREET 2:		STE 201
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68508

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MUHLEISEN ANGIE
		CENTRAL INDEX KEY:			0001269812

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31924
		FILM NUMBER:		05899847

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		303 696 5405

	MAIL ADDRESS:	
		STREET 1:		3643 S 48TH STREET P O BOX 82535
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68501-2535

	FORMER NAME:	
		FORMER CONFORMED NAME:	MULHEISEN ANGIE
		DATE OF NAME CHANGE:	20031110
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-06-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001258602</issuerCik>
        <issuerName>NELNET INC</issuerName>
        <issuerTradingSymbol>NNI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001269812</rptOwnerCik>
            <rptOwnerName>MUHLEISEN ANGIE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FARMERS &amp; MERCHANTS INVESTMENT, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>6801 SOUTH 27TH STREET</rptOwnerStreet2>
            <rptOwnerCity>LINCOLN</rptOwnerCity>
            <rptOwnerState>NE</rptOwnerState>
            <rptOwnerZipCode>68512</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-06-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>64174</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>35.84</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>936480</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Reporting person's direct holdings include 88,864 shares of Class A Common Stock held jointly with spouse.</footnote>
        <footnote id="F2">The sale reported in this Form 4 was effected by the reporting person pursuant to a Rule 10b5-1 plan entered into on June 1, 2005.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/William J. Munn, Attorney-in-Fact for Angie Muhleisen/</signatureName>
        <signatureDate>2005-06-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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