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
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                      	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 *

HEIMES TERRY J	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)
Chief Financial Officer	
(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) (2)	  	20.51  	D	$15.1400  	137315.49   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	41.03  	D	$15.1350  	137274.46   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	71.79  	D	$15.1300  	137202.67   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	10.26  	D	$15.1250  	137192.41   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	102.56  	D	$15.1200  	137089.85   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	20.82  	D	$15.1150  	137069.03   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	84.72  	D	$15.1100  	136984.31   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	51.28  	D	$15.1050  	136933.03   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	241.33  	D	$15.1000  	136691.7   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	20.51  	D	$15.0975  	136671.19   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	102.56  	D	$15.0950  	136568.63   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	194.87  	D	$15.0900  	136373.76   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	246.26  	D	$15.0850  	136127.50   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	257.95  	D	$15.0800  	135869.55   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	266.67  	D	$15.0750  	135602.88   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	533.33  	D	$15.0700  	135069.55   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	564.21  	D	$15.0650  	134505.34   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	399.18  	D	$15.0600  	134106.16   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	307.28  	D	$15.0550  	133798.88   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	697.74  	D	$15.0500  	133101.14   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	184.51  	D	$15.0450  	132916.63   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	371.59  	D	$15.0400  	132545.04   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	389.74  	D	$15.0350  	132155.30   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	625.95  	D	$15.0300  	131529.35   (3)	D  	 	
Class A Common Stock  	7/23/2009  	 	S (1) (2)	  	164.10  	D	$15.0250  	131365.25   (3)	D  	 	

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) 	These shares were sold by the reporting person pursuant to a Rule 10b5-1 Sales Plan (the "Plan") entered into on March 13, 2009, which provided for the sale of up to a maximum of 37,500 shares of the issuer's Class A Common Stock, subject to limit price provisions. With the sales of the shares reported in the two Forms 4 being filed for the reporting person for transactions made on July 23, 2009, the Plan has been completed and no future sales may occur pursuant to the Plan. The reporting person sold the shares for diversification and estate planning purposes.	
(  2) 	Rule 10b5-1, promulgated under the Securities Exchange Act of 1934, allows executives of a company who are 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 executive 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, without regard to any subsequent material non-public information related to the company that the executive may receive.	
(  3) 	Includes 4,889 shares issued pursuant to the issuer's Employee Share Purchase Plan.	

Remarks:
This is the first of two Forms 4 that are being filed for Terry J. Heimes for transactions made on July 23, 2009.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
HEIMES TERRY J
121 SOUTH 13TH STREET
SUITE 201
LINCOLN, NE 68508			Chief Financial Officer		

Signatures		
/s/ Angie R. Miller, Attorney-in-Fact for Terry J. Heimes		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).	
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