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    LINCOLN, Neb., May 22 /PRNewswire-FirstCall/ -- Nelnet (NYSE:   NNI) sent
 the following letter to colleges and universities across the country today
 in response to the Department of Education's plan for implementing the
 Ensuring Continued Access to Student Loans Act (H.R. 5715):
 
 

     May 22, 2008
 
 
     Dear School Partners:
     For 30 years, Nelnet has been a dependable choice for helping families
 plan and pay for their education. We are pleased to let you know that we
 will continue originating new federal student loans. In the spirit of the
 Ensuring Continued Access to Student Loans Act (H.R. 5715), we intend to
 make federal student loans to all students regardless of the school they
 attend for the 2008-2009 academic year.
 
     While we are proud that our lending has been uninterrupted, we know
 that it would have been difficult to continue lending this fall without an
 industry-wide solution. The swift and historic action by Congress and the
 Administration -- in particular, the tireless effort of leaders at the
 Departments of Education and Treasury to develop a workable solution in
 recent weeks -- will ensure families have access to federal student loans.
 We applaud them all for their commitment to education-seeking families.
 
     We will continue to work with our industry colleagues to make sure the
 intent of H.R. 5715 is realized through the details of the Department's
 plan and that it is implemented with the least amount of burden for
 students and schools. To this end, it is better for students if their
 servicer remains the same even if their loan is sold to the Department
 under this plan. We feel strongly that life-of-loan servicing by a quality
 servicer provides consistency for students, and encourage you to promote
 this with the Department.
 
     We look forward to helping you and your students throughout the coming
 year. A Campus Director will be contacting you to discuss Nelnet's
 continued commitment. In the meantime, please do not hesitate to contact us
 at 866 4NELNET (866.463.5638) if you have questions or if we can assist you
 in any way.
 
 

      Sincerely,
 
      Mike Dunlap                   Jeff Noordhoek
      Chief Executive Officer       President
 
     Due to technical issues, the company canceled its conference call to
 provide a business update in conjunction with Nelnet's annual meeting of
 shareholders this morning. The call has been rescheduled for this
 afternoon, May 22, 2008, at 4:00 pm (Eastern).
 
     To access the call live, participants in the United States should dial
 888.694.4729 and international callers should dial 973.582.2745 at least 15
 minutes prior to the call. The conference ID is 4923-5941.
 
     To access the replay of the conference call within the United States,
 callers should dial 800.642.1687. International callers should dial
 706.645.9291. All callers accessing the replay will need to use the
 confirmation code 4923-5941.
 
     Information contained or incorporated in this press release, other than
 historical information, may be considered forward looking in nature and is
 subject to various risks, uncertainties, and assumptions. Should one or
 more of these risks or uncertainties materialize, or should underlying
 assumptions prove incorrect, actual results may vary materially from those
 anticipated, estimated, or expected. Among the key factors that may have a
 direct bearing on the company's operating results, performance, or
 financial condition expressed or implied by the forward-looking statements
 are changes in terms of student loans and the educational credit
 marketplace, changes in the demand for educational financing or in
 financing preferences of educational institutions, students and their
 families, or changes in the general interest rate environment and in the
 securitization markets for education loans.
 
     (code #: nnig)
 
 
 

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