FORM 4
[ X ] 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 or Section 30(h) of the Investment Company Act of 1940	                      	

1. Name and Address of Reporting Person *

BUTTERFIELD STEPHEN F	2. Issuer Name and Ticker or Trading Symbol

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

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

121 SOUTH 13TH STREET, SUITE 100	3. Date of Earliest Transaction (MM/DD/YYYY)

4/4/2018		
(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 B Common Stock  	4/4/2018  	 	G (1)	  V	16808  	D	$0  	33617   (2)	I  	By trust  	
Class B Common Stock  	4/4/2018  	 	G (1)	  V	16808  	A	$0  	16808  	I  	By adult son  	
Class B Common Stock  	4/13/2018  	 	G (3)	  V	300  	D	$0  	33317   (2)	I  	By trust  	
Class B Common Stock  	4/13/2018  	 	G (3)	  V	100  	A	$0  	100  	I  	By adult son as UTMA custodian for granddaughter  	
Class B Common Stock  	4/13/2018  	 	G (3)	  V	100  	A	$0  	100  	I  	By adult son as UTMA custodian for grandson  	
Class B Common Stock  	4/13/2018  	 	G (3)	  V	100  	A	$0  	100  	I  	By adult son as UTMA custodian for grandson  	
Class B Common Stock  	4/13/2018  	 	G (4)	  V	100  	D	$0  	50325   (5)	I  	By trust  	
Class B Common Stock  	4/13/2018  	 	G (4)	  V	100  	A	$0  	100  	I  	By adult son  	
Class B Common Stock  	4/13/2018  	 	G (6)	  V	100  	D	$0  	50325   (7)	I  	By trust  	
Class B Common Stock  	4/13/2018  	 	G (6)	  V	100  	A	$0  	100  	I  	By adult son  	
Class B Common Stock  	4/13/2018  	 	G (8)	  V	100  	D	$0  	50325   (9)	I  	By trust  	
Class B Common Stock  	4/13/2018  	 	G (8)	  V	100  	A	$0  	100  	I  	By spouse as UTMA custodian for daughter  	
Class B Common Stock  	4/13/2018  	 	G (10)	  V	100  	D	$0  	50325   (11)	I  	By trust  	
Class B Common Stock  	4/13/2018  	 	G (10)	  V	100  	A	$0  	100  	I  	By spouse as UTMA custodian for son  	
Class B Common Stock  	 	 	 	  	 	 	 	881077   (12)	D  	 	
Class B Common Stock  	 	 	 	  	 	 	 	70586  	I  	By spouse  	
Class B Common Stock  	 	 	 	  	 	 	 	76521   (13)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	88385   (14)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	82947   (15)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	95787   (16)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	82947   (17)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	95787   (18)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	99259   (19)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	76521   (20)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	88385   (21)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	92327   (22)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	94288   (23)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	100000   (24)	I  	By GRAT  	
Class B Common Stock  	 	 	 	  	 	 	 	1586691   (25)	I  	By corporation  	
Class B Common Stock  	 	 	 	  	 	 	 	61941   (26)	I  	By CLAT  	

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) 	On April 4, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed 16,808 shares to such adult son of the reporting person.	
(2) 	Shares held by a trust, of which an adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(3) 	On April 13, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed a total of 300 shares to such adult son as custodian under the Uniform Transfers to Minors Act for the granddaughter and two grandsons of the reporting person, in increments of 100 shares for each of the granddaughter and the two grandsons.	
(4) 	On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person.	
(5) 	Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(6) 	On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person.	
(7) 	Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(8) 	On April 13, 2018, a trust of which the daughter of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such daughter of the reporting person.	
(9) 	Shares held by a trust, of which the daughter of the reporting person is the beneficiary.	
(10) 	On April 13, 2018, a trust of which another son of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such son of the reporting person.	
(11) 	Shares held by a trust, of which another son of the reporting person is the beneficiary.	
(12) 	Includes 135,332 shares held by the Stephen F. Butterfield Revocable Living Trust, the agreement for which was revocable by the reporting person while he was living. As noted in the Remarks below, the reporting person passed away on April 16, 2018.	
(13) 	Shares held by a grantor retained annuity trust ("GRAT") dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(14) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(15) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(16) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(17) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(18) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(19) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(20) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(21) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(22) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(23) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(24) 	Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	
(25) 	Shares held by Union Financial Services, Inc. ("UFS"), of which the reporting person was a director and president and owned 50.0% of the outstanding capital stock. The reporting person reported beneficial ownership of all the shares held by UFS, but disclaimed beneficial ownership of the shares held by UFS except to the extent of his pecuniary interest therein.	
(26) 	Shares held by a charitable lead annuity trust ("CLAT") established by the reporting person, of which CLAT the descendants of the reporting person are remainder beneficiaries. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.	

Remarks:
The reporting person passed away on April 16, 2018.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
BUTTERFIELD STEPHEN F
121 SOUTH 13TH STREET
SUITE 100
LINCOLN, NE 68508	X	X			

Signatures		
/s/ Audra Hoffschneider, Attorney-in-Fact for Stephen F. Butterfield		12/13/2018	
** 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.