---
schema_version: "secwatch.filing_event.v1"
accession: "0001258602-23-000041"
form_type: "8-K"
ticker: "NNI"
cik: "0001258602"
company_name: "NELNET INC"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T15:39:05.191139+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Nelnet subsidiary awarded USDS student loan servicing contract by Dept of Education

## Summary
- NDS awarded USDS contract effective April 24, 2023; five-year base with up to 5 years of extensions.
- Contract covers servicing for 37M+ borrowers; NDS is one of five servicers selected.
- NDS to begin platform enhancements immediately; compensated by Dept for certain investments.
- Legacy servicing contracts extended to Dec 2024 to ensure stability during transition.
- Pricing includes common pricing for servicing system ops, cybersecurity, contact center, etc.

## SEC filing metadata
- accession: 0001258602-23-000041
- form_type: 8-K
- ticker: NNI
- cik: 0001258602
- company_name: NELNET INC
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1258602/000125860223000041/0001258602-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1258602/000125860223000041/nni-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001258602-23-000041
- JSON: https://secwatch.observer/filing/0001258602-23-000041.json
- Plain text: https://secwatch.observer/filing/0001258602-23-000041.txt

## Key facts
- Material Agreements
  NELNET INC entered into New Government Servicing Contract with United States Department of Education (effective 2023-04-24).
  - Action: entry
  - Counterparty: United States Department of Education
  - Effective: 2023-04-24
  source text: On April 24, 2023, Nelnet Diversified Solutions, LLC (NDS), a subsidiary of Nelnet, Inc. (the “Company”), received a Solicitation, Offer, and Award Contract from the United States Department of Education (the “Department”), pursuant to which NDS was selected to provide continued servicing capabilities for the Department's Office of Federal Student Aid's student aid recipients under a new Unified Servicing and Data Solution (USDS) contract (the "New Government Servicing Contract") which will replace the existing legacy Department student loan servicing contracts for Direct Loans and federally managed Federal Family Education Loan (FFEL) Program loans that are currently scheduled to expire December 14, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1258602/000125860223000041/0001258602-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.