Item 7.01 Regulation FD Disclosure.
On June 22, 2020, Nelnet, Inc. (the "Company") issued a press release announcing
the U.S. Department of Education, Office of Federal Student Aid (the
"Department") notified the Company that the Company's proposal in response to
the Business Process Operations ("BPO") component of the Department's Next
Generation Financial Services Environment ("NextGen") contract procurement
process has been determined to be ineligible for award, claiming the Company's
response did not meet certain requirements related to small business
participation. A copy of the press release is furnished as Exhibit 99.1 to this
report.
The above information and Exhibit 99.1 shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), nor
shall such information and Exhibit be deemed incorporated by reference in any
filing under the Securities Act of 1933 or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing.
Item 8.01 Other Events.
On June 18, 2020, the Company received a letter from the Department notifying
the Company that the Company's proposal in response to the BPO component of the
Department's NextGen contract procurement process has been determined to be
ineligible for award, claiming the Company's response did not meet certain
requirements related to small business participation. BPO is the back office and
call center operational functions for servicing the Department's student loan
customers. The Company has requested a debriefing by the Department, and the
Company is considering its legal options, including filing a protest challenging
the decision.
The Department's NextGen contract procurement process is comprised of
solicitations, including BPO and the Enhanced Processing Solution ("EPS")
transitional information technology platform, which will make up a new framework
for the servicing of all of the student loans owned by the Department. On April
2, 2020, the Company announced that the Department had notified the Company that
the Company's response to the EPS component was determined to be outside of the
competitive range and would receive no further consideration for an award. The
Company has filed an initial and two supplemental protests with the Government
Accountability Office challenging the Department's EPS decision. The Company
cannot predict the outcome of these protests. A decision is expected by late
July.
Nelnet Servicing, LLC ("Nelnet Servicing") and Great Lakes Educational Loan
Services, Inc. ("Great Lakes"), both subsidiaries of the Company, have existing
contracts with the Department to provide servicing for student loans owned by
the Department. As of March 31, 2020, Nelnet Servicing was servicing $185.5
billion of student loans for 5.5 million borrowers under its contract, and Great
Lakes was servicing $243.2 billion of student loans for 7.3 million borrowers
under its contract. Those contracts currently provide for expiration on December
14, 2020, with two potential six-month extensions at the Department's
discretion. If the Department's NextGen contract decisions stand, Nelnet
Servicing and Great Lakes will eventually be required to migrate these
portfolios onto another provider's system and the Company would restructure the
Company's loan servicing segment for long-term success.
The foregoing discussion under this Item 8.01 includes forward-looking
statements that involve risks and uncertainties. In connection therewith, see
the discussion below under the caption "Forward-looking and cautionary
statements," which is incorporated under this Item 8.01 by reference.

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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are furnished or filed as part of this
report:
  Exhibit No.                                           Description

99.1*                    Press Release dated June 22, 2020 - "Nelnet Issues Statement Regarding
                       Department of Education NextGen Business Process Operations Proposal."
104**                  Cover Page Interactive Data File (formatted as Inline XBRL and included in
                       Exhibit 101).



* Furnished herewith
** Filed herewith

Forward-looking and cautionary statements

This report contains forward-looking statements within the meaning of federal securities laws. The words "anticipate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "will," "would," and similar expressions, as well as statements in future tense, are intended to identify forward-looking statements. These statements are based on management's current expectations as of the date of this report and are subject to known and unknown risks and uncertainties that may cause actual results or performance to differ materially from those expressed or implied by the forward-looking statements. Such risks include, but are not limited to: risks related to the ability to successfully maintain and increase allocated volumes of student loans serviced by the Company under existing and any future servicing contracts with the Department, which current contracts accounted for 30 percent of the Company's revenue in 2019; risks to the Company related to the Department's initiatives to procure new contracts for federal student loan servicing, including the pending and uncertain nature of the Department's procurement process, the uncertain timing and nature of the outcome of the Company's protest of the reported decision by the Department as to the Company's proposal for the EPS component of the Department's procurement, the uncertain timing and nature of the outcome of the Company's intended protest of the reported decision by the Department as to the Company's proposal for the BPO component, the possibility that awards or other evaluations of proposals may be challenged by various interested parties and may not be finalized within the currently anticipated time frame or at all, risks that the Company may not be successful in obtaining any of such potential new contracts, and risks related to the Company's ability to comply with agreements with third-party customers for the servicing of loans; risks related to the severity, magnitude, and duration of the COVID-19 pandemic, including changes in the macroeconomic environment and consumer behavior, restrictions on business, individual, or travel activities intended to slow the spread of the pandemic, and volatility in market conditions resulting from the pandemic; risks and uncertainties from changes in the credit and services marketplace resulting from changes in applicable laws, regulations, government programs, budgets and annual appropriations, and other factors; cybersecurity risks, including potential disruptions to systems, disclosure of confidential information, and/or damage to reputation resulting from cyber-breaches; and other risks and uncertainties set forth in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2019. All forward-looking statements contained in this report are qualified by these cautionary statements and are made only as of the date of this report. Although the Company may from time to time voluntarily update or revise its prior forward-looking statements to reflect actual results or changes in the Company's expectations, the Company disclaims any commitment to do so except as required by securities laws.

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