8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of earliest event reported)   October 14, 2004
                                                   ----------------

                       Nelnet Education Loan Funding, Inc.
                       -----------------------------------
             (Exact name of registrant as specified in its charter)


            Delaware                  333-104736                 47-0809600
            --------                  ----------                 ----------
  (State of other jurisdiction       (Commission               (IRS Employer
       of incorporation)             File Number)           Identification No.)


121 South 13th Street, Suite 201, Lincoln, Nebraska                68508
- -------------------------------------------------------------------------------
               (Address of principal executive offices)          (ZipCode)


Registrant's telephone number, including area code (402) 458-2301
                                                   --------------

 -----------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]     Written communications pursuant to Rule 425 under the Securities Act
        (17 CFR 230.425)

[ ]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act
        (17 CFR 240.14a-12)

[ ]     Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR 240.14(d)-2(b))

[ ]     Pre-commencement communications pursuant to Rule 13e-4(c) under the
        Exchange Act (17 CFR 240.13e-4(c))





ITEM 8.01  OTHER EVENTS.

        On October 15, 2004, Nelnet, Inc. (the "Company") issued a press release
announcing the SEC Staff requested certain information by letter dated October
14, 2004, in connection with an informal investigation of the Company. The
Company acts as servicer of the student loans pledged to secure Nelnet Education
Loan Funding, Inc.'s Series 2004-1 and Series 2004-2 notes and as a subservicer
of the student loans pledged to secure Nelnet Education Loan Funding, Inc.'s
Series 2003-1 notes.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

        A copy of the press release is attached as Exhibit 99.1 to this Current
Report.


                                   SIGNATURES


        Pursuant to the requirements 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.


                                        NELNET EDUCATION LOAN
                                        FUNDING, INC.



                                        By: /s/ Terry J. Heimes
                                           -----------------------------
                                             Terry J. Heimes
                                             President

Dated:  October 20, 2004





                                  EXHIBIT INDEX



               Exhibit


(99.1)   Nelnet, Inc. Press Release

EX-99.1

                                                                   Exhibit 99.1
Media Contact:  Sheila Odom, 402.458.2329
Investor Contact:  Cheryl Watson, 317.469.2064

For immediate release

Nelnet, Inc. Receives Request for Information

LINCOLN, NE -- As previously disclosed on September 22, 2004 by Nelnet, Inc.
(NYSE: NNI), Senator Edward Kennedy had, by letter, requested that the SEC
investigate certain activities of the company. These activities relate to
certain public statements and filings made by Nelnet on July 2, 2004 regarding
9.5% loan subsidies paid by the Department of Education to Nelnet as well as
certain sales by company executives of Nelnet securities.

On September 27, 2004, Nelnet voluntarily contacted the SEC to request a meeting
with representatives of the Staff of the Commission. Nelnet's request was
granted, and representatives of the company met with representatives of the
Staff on October 12, 2004. Nelnet offered to provide to the SEC any information
the Staff wished to have relating to these issues. By letter dated October 14,
2004, the Staff requested that, in connection with an informal investigation,
Nelnet provide certain information to the Staff. Nelnet is fully cooperating
with the SEC in response to its request for information, and it continues to
believe that the concerns Senator Kennedy expressed to the SEC are entirely
unfounded.

                                       ###

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 over $13 billion in total 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 nearly $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 www.nelnet.net.

Information contained 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 Nelnet's
operating results, performance, or financial condition 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.