FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  	OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011 
Estimated average burden
hours per response... 0.5	
                      	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940	                      	

1. Name and Address of Reporting Person *

EICHER TODD M	2. Issuer Name and Ticker or Trading Symbol

NELNET INC [ NNI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Executive Director	
(Last)          (First)          (Middle)

121 SOUTH 13TH STREET, SUITE 201	3. Date of Earliest Transaction (MM/DD/YYYY)

7/23/2009		
(Street)

LINCOLN, NE 68508
(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code
(Instr. 8)	4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)	
			Code	V	Amount	(A) or (D)	Price				
Class A Common Stock  	7/23/2009  	 	S (1)	  	25.64  	D	$15.1400  	77660.36  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	51.28  	D	$15.1350  	77609.08  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	89.74  	D	$15.1300  	77519.34  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	12.82  	D	$15.1250  	77506.52  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	128.21  	D	$15.1200  	77378.31  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	26.03  	D	$15.1150  	77352.28  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	105.90  	D	$15.1100  	77246.38  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	64.10  	D	$15.1050  	77182.28  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	301.67  	D	$15.1000  	76880.61  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	25.64  	D	$15.0975  	76854.97  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	128.21  	D	$15.0950  	76726.76  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	243.59  	D	$15.0900  	76483.17  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	307.82  	D	$15.0850  	76175.35  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	322.44  	D	$15.0800  	75852.91  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	333.33  	D	$15.0750  	75519.58  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	666.67  	D	$15.0700  	74852.91  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	705.26  	D	$15.0650  	74147.65  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	498.97  	D	$15.0600  	73648.68  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	384.10  	D	$15.0550  	73264.58  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	872.18  	D	$15.0500  	72392.40  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	230.64  	D	$15.0450  	72161.76  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	464.49  	D	$15.0400  	71697.27  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	487.18  	D	$15.0350  	71210.09  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	782.44  	D	$15.0300  	70427.65  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	205.13  	D	$15.0250  	70222.52  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	664.74  	D	$15.0200  	69557.78  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	128.21  	D	$15.0175  	69429.57  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	501.41  	D	$15.0150  	68928.16  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	143.46  	D	$15.0100  	68784.70  	I  	By spouse  	
Class A Common Stock  	7/23/2009  	 	S (1)	  	25.64  	D	$15.0050  	68759.06  	I  	By spouse  	

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)	
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code
(Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	6. Date Exercisable and Expiration Date	7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)	8. Price of Derivative Security
(Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)	
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares					

Explanation of Responses:	
(  1) 	The shares were sold by the reporting person's spouse pursuant to a Rule 10b5-1 Sales Plan entered into on December 9, 2008.	

Remarks:
This is the first of two Forms 4 that are being filed for Todd M. Eicher for transactions made on July 23, 2009.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
EICHER TODD M
121 SOUTH 13TH STREET
SUITE 201
LINCOLN, NE 68508			Executive Director		

Signatures		
/s/ Angie R. Miller, Attorney-in-Fact for Todd M. Eicher		7/27/2009	
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).	
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.