Nelnet Prices Student Loan Asset-Backed Securities (ABS) Offering

Apr 20, 2005

LINCOLN, Neb., April 20, 2005 /PRNewswire-FirstCall via COMTEX/ -- Nelnet (NYSE: NNI) today announced it priced a new term student loan ABS offering on April 19, 2005. A total of $2 billion of Floating Rate Notes were offered to institutional investors.

The Notes were issued with spreads to the 3-month LIBOR index.

Nelnet Student Loan Trust 2005-2, a bankruptcy remote special purpose vehicle, created to securitize Nelnet's student loan assets in the term ABS market, issued the student loan asset-backed notes. The detail of the pricing of the Floating Rate Notes includes the following:

Bond Class     Par Amount         Pricing Level      Exp. Avg. Life
     Class A-1      401,000,000        3ML - 2bps         1.00
     Class A-2      494,000,000        3ML + 1bps         3.00
     Class A-3      288,000,000        3ML + 6bps         5.00
     Class A-4      294,000,000        3ML + 8bps         7.00
     Class A-5      463,000,000        3ML + 10bps        10.66
     Class B        60,000,000         3ML + 17bps        9.18

     More information regarding this financing is available at

Nelnet is one of the leading education finance companies in the United States and is focused on providing quality student loan products and services to students and schools nationwide. With more than $13 billion in student loan assets, Nelnet originates in excess of $3 billion for itself and its service partners annually, and its servicing software is used by approximately 35 clients, including Nelnet, to service more than $50 billion in student loans. Nelnet ranks among the nation's leaders in terms of total student loan assets.

Nelnet offers a broad range of student loan and financial services and technology-based products, including student loan origination and lending, guarantee servicing, and a suite of software solutions. Our products are designed to simplify the student loan process by automating financial aid delivery, loan processing, and funds disbursement. Our services help to facilitate and streamline education finance for all involved in the industry, including student and parent borrowers, lenders, financial aid officers, guaranty agencies, governmental agencies, servicers, and the capital markets.

Additional information is available at

(code #: nnig)


Media, Sheila Odom, +1-402-458-2329, or Investors, Cheryl Watson, +1-317-469-2064,
both for Nelnet

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