Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Nelnet, Inc. (the "Company") is filing this amendment to its Current Report on Form 8-K filed on March 23, 2020, which reported that the Company's board of directors had elected JoAnn M. Martin as a new director of the Company effective as of March 19, 2020. At the time of her election, Ms. Martin's board committee appointments had not been determined. On May 22, 2020, the board of directors appointed Ms. Martin to serve as a member of the board's audit committee, compliance committee, and risk and finance committee. Ms. Martin will serve as Chair of the risk and finance committee. Except as set forth herein, no other information in the Company's Current Report on Form 8-K filed on March 23, 2020 is amended.

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