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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 QoQJEmBTr9AR7Yny8tF9sQwR3nZX2pCcBjZb8UV9vFyAuG3xAIyBZ5IyIO9ag0Z3
 Q3lGZuLT3Z4gWjzQEbV03g==

<SEC-DOCUMENT>0001437749-10-004004.txt : 20101117
<SEC-HEADER>0001437749-10-004004.hdr.sgml : 20101117
<ACCEPTANCE-DATETIME>20101117174450
ACCESSION NUMBER:		0001437749-10-004004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101115
FILED AS OF DATE:		20101117
DATE AS OF CHANGE:		20101117

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			REARDON MICHAEL D
		CENTRAL INDEX KEY:			0001276321

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31924
		FILM NUMBER:		101200745

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:			LINCOLN
		STATE:			NE
		ZIP:			68508
		BUSINESS PHONE:		402-458-2370

	MAIL ADDRESS:	
		STREET 1:		121 SOUTH 13TH ST
		STREET 2:		STE 201
		CITY:			LINCOLN
		STATE:			NE
		ZIP:			68508
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-11-15</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001276321</rptOwnerCik>
            <rptOwnerName>REARDON MICHAEL D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>121 SOUTH 13TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 201</rptOwnerStreet2>
            <rptOwnerCity>LINCOLN</rptOwnerCity>
            <rptOwnerState>NE</rptOwnerState>
            <rptOwnerZipCode>68508</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-11-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000.0000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.6069</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20121.0000</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These shares were sold by Michael Reardon pursuant to a Rule 10b5-1 Sales Plan (the &quot;Plan&quot;) entered into on August 17, 2010, which provided for the sale of shares of the issuer's Class A Common Stock. With the sales of the shares reported herein, the Plan has been completed and no future sales may occur pursuant to the Plan.</footnote>
        <footnote id="F2">Rule 10b5-1, promulgated under the Securities Exchange Act of 1934, allows a director of a company who is not in possession of material non-public information to establish pre-arranged plans to buy or sell a specified number of shares of such company's stock. Once a plan is established, the director does not retain or exercise any discretion over sales of stock under the plan and the pre-planned trades may be executed at later dates as set forth in the plan.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.22 to $22.97 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.</footnote>
        <footnote id="F4">These shares include 15,672 shares that the reporting person holds jointly with his spouse.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Angie R. Miller, Attorney-in-Fact for Michael D. Reardon</signatureName>
        <signatureDate>2010-11-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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