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NELNET INC

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

NNI$132.50+1.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated:February 26, 2026
NELNET, INC.
By:/s/ JEFFREY R. NOORDHOEK
Name:Jeffrey R. Noordhoek
Title:Chief Executive Officer
(Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated:

SignatureTitleDate
/s/ JEFFREY R. NOORDHOEKChief Executive Officer (Principal Executive Officer)February 26, 2026
Jeffrey R. Noordhoek
/s/ JAMES D. KRUGERChief Financial Officer (Principal Financial Officer and Principal Accounting Officer)February 26, 2026
James D. Kruger
/s/ MICHAEL S. DUNLAPExecutive ChairmanFebruary 26, 2026
Michael S. Dunlap
/s/ PREETA D. BANSALDirectorFebruary 26, 2026
Preeta D. Bansal
/s/ MATTHEW W. DUNLAPDirectorFebruary 26, 2026
Matthew W. Dunlap
/s/ KATHLEEN A. FARRELLDirectorFebruary 26, 2026
Kathleen A. Farrell
/s/ DAVID S. GRAFFDirectorFebruary 26, 2026
David S. Graff
/s/ THOMAS E. HENNINGDirectorFebruary 26, 2026
Thomas E. Henning
/s/ ADAM K. PETERSONDirectorFebruary 26, 2026
Adam K. Peterson
/s/ KIMBERLY K. RATHDirectorFebruary 26, 2026
Kimberly K. Rath
/s/ JONA M. VAN DEUNDirectorFebruary 26, 2026
Jona M. Van Deun

Index to Consolidated Financial Statements

Page
Report of Independent Registered Public Accounting FirmF-2
Consolidated Balance Sheets as of December 31, 2025 and 2024F-4
Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023F-5
Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024, and 2023F-6
Consolidated Statements of Shareholders' Equity for the years ended December 31, 2025, 2024, and 2023F-7
Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024, and 2023F-8
Notes to Consolidated Financial StatementsF-10

F - 1

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.