Nelnet Student Loan Trust 2008-1

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$495,000,000 Class A-1 Floating Rate Asset-Backed Senior Notes
$229,000,000 Class A-2 Floating Rate Asset-Backed Senior Notes
$440,422,000 Class A-3 Floating Rate Asset-Backed Senior Notes
$36,013,000 Class B Floating Rate Asset-Backed Notes

Date of Issue: March 10, 2008 

Issue Amount: $1,200,435,000 

Securities Offered:

Class A-1 Floating Rate Asset-Backed Senior Notes in the aggregate principal amount of $495,000,000 
Rate: Three-Month LIBOR +0.55%
CUSIP: 64032G AA0
ISIN: US64032GAA04
European Common Code: 035230424 

Class A-2 Floating Rate Asset-Backed Senior Notes in the aggregate principal amount of $229,000,000 
Rate: Three-Month LIBOR +.85%
CUSIP: 64032G  AB8
ISIN: US64032GAB86 
European Common Code: 035230505

Class A-3 Floating Rate Asset-Backed Senior Notes in the aggregate principal amount of $440,422,000
Rate: Three-Month LIBOR +1.15 %
CUSIP: 64032G AC6
ISIN: US64032GAC69
European Common Code: 035230513

Class B Notes in the aggregate principal amount of $43,500,000
Rate: Three-Month LIBOR +1.25 %
CUSIP: 64032G AF9
ISIN: US64032GAF90
European Common Code: 035230564 


Master Servicer and Administrator: National Education Loan Network, Inc.

Eligible Lender and Indenture Trustee: Zions First National Bank

Underwriters:

Barclays Capital
Deutsche Bank Securities
JP Morgan
RBC Capital Markets
SunTrust Robinson Humphrey 


Rating:

Senior Series 2008-1 A-1 Notes, A-2 Notes, A-3 Notes
Aaa Moody's
AAA Standard & Poor's
AAA Fitch
Subordinate Series 2008-1 B
A2 Moody's
A Standard & Poor's
AA Fitch