Exhibit 21.1
List of Direct and Indirect Subsidiaries of Nelnet, Inc.
as of February 7, 2008
as of February 7, 2008
| Date | Relationship to | Percentage | ||||||||||||||
| Name | City | State | Established | Description of Operations | Nelnet, Inc. | Ownership | ||||||||||
| 1. | National Education Loan Network, Inc. (organized in Nevada) (dba American Card Services) | Lincoln | NE | 01/27/00 | Student loans and associated products, services and financing, including marketing services. Also provides corporate services (legal, accounting, etc.) for Nelnet and its related entities, and provides payment processing and web-based software applications. | Direct Subsidiary | 100 | % | ||||||||
| 2. | Nelnet Capital LLC (organized in Nebraska) | Lincoln | NE | 03/03/00 | Broker — Dealer Services | Direct Subsidiary | 100 | % | ||||||||
| 3. | Nelnet Guarantor Solutions, LLC (organized in Florida) (formerly Nelnet Guarantee Services LLC; formerly GuaranTec LLP) | Jacksonville | FL | 01/01/06 (was converted from LLP in 2006 — LLP formed 11/1/96) | Provides services to student loan guaranty agencies. | Indirect Subsidiary | 100 | % | ||||||||
| 4. | National Higher Education Loan Program, Inc. (organized in Nebraska) | Lincoln | NE | 11/05/97 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 5. | 5280 Solutions LLC (f/k/a Nelnet Technology Services LLC) (organized in Colorado) (d/b/a Idaho Financial Associates, Charter Account Systems and 5280 Solutions) | Littleton | CO | 11/30/00 (was converted from a corporation to an LLC in 2005) | Provides IT products and technical consulting; develops and licenses loan processing/servicing software. | Indirect Subsidiary | 100 | % | ||||||||
| 6. | FirstMark Services, LLC (organized in Colorado) | Woodbury | MN | 02/26/02 | Origination and servicing of private educational loans | Indirect Subsidiary | 100 | % | ||||||||
| 7. | ClassCredit, Inc. (organized in Florida) | Lincoln | NE | 08/02/94 | Student loan origination | Indirect Subsidiary | 100 | % | ||||||||
| 8. | InTuition, Inc. (organized in Florida) | Lincoln | NE | 12/20/91 | Student loan servicing and financing | Indirect Subsidiary | 100 | % | ||||||||
| 9. | EFS Finance Co. (organized in Indiana) | Lincoln | NE | 01/13/95 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 10. | Nelnet Management Corporation-1 (organized in Nevada) (formerly Nelnet Student Loan Warehouse Corporation — 1) | Lincoln | NE | 01/23/02 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 11. | Nelnet Student Loan Funding Management Corporation (organized in Nevada) | Lincoln | NE | 05/14/02 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 12. | Nelnet Student Loan Funding, LLC (organized in Delaware) | Lincoln | NE | 01/25/02 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 13. | NELNET Student Loan Corporation-1 (organized in Nevada) | Lincoln | NE | 02/28/96 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| Date | Relationship to | Percentage | ||||||||||||||
| Name | City | State | Established | Description of Operations | Nelnet, Inc. | Ownership | ||||||||||
| 14. | NELNET Student Loan Corporation-2 (organized in Nevada) | Lincoln | NE | 10/08/99 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 15. | NHELP-I, Inc. (organized in Nevada) | Lincoln | NE | 09/25/98 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 16. | NHELP-II Inc. (organized in Nevada) | Lincoln | NE | 01/13/98 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 17. | NHELP-II, LLC (organized in Nevada) | Lincoln | NE | 01/13/98 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 18. | NHELP-III, Inc. (organized in Nevada) | Lincoln | NE | 09/07/99 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 19. | EMT Corp. (organized in Indiana) | Lincoln | NE | 04/14/98 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 20. | Nelnet Loan Corp.(organized in Nevada) | Lincoln | NE | 10/25/01 | Private Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 21. | Nelnet Education Loan Funding, Inc. (f/k/a NEBHELP, INC.) (organized in Nebraska) | Lincoln | NE | 04/20/03 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 22. | MELMAC, Inc. (organized in Nevada) | Portland | ME | 06/28/00 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 23. | MELMAC, LLC (organized in Delaware) | Portland | ME | 06/29/00 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 24. | National Education Loan of New England, Inc. (organized in Rhode Island) | Warwick | RI | 03/09/04 | Student loan origination | Indirect Subsidiary | 100 | % | ||||||||
| 25. | Student Loan Acquisition Authority of Arizona, LLC (organized in Delaware) | Lincoln | NE | 09/01/03 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 26. | SLAAA Acquisition Corp. (organized in Nebraska) | Lincoln | NE | 08/01/03 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 27. | Shockley Financial Corp. (organized in Colorado) | Aurora | CO | 10/01/02 | Capital Markets activities | Indirect Subsidiary | 100 | % | ||||||||
| 28. | Nelnet Canada, Inc. (organized in Canada) | Mississauga | Ontario | 05/10/07 | Canadian Student loan origination and servicing | Indirect Subsidiary | 100 | % | ||||||||
| 29. | Nelnet Business Solutions, Inc. (f/k/a FACTS Management Co.) (organized in Nebraska) (dba FACTS Management and infiNET Integrated Solutions) | Lincoln | NE | 12/26/92 | Tuition payment plans, online payment processing and campus commerce solutions. | Indirect Subsidiary | 100 | % | ||||||||
| 30. | Student Marketing Group, Inc. (organized in New York) | Lynbrook | NY | 02/04/99 | Direct marketing services | Direct Subsidiary | 100 | % | ||||||||
| 31. | National Honor Roll, L.L.C. (organized in New York) | Lynbrook | NY | 01/01/01 | High School Student Honor Roll publication and mailing list services | Indirect Subsidiary | 100 | % | ||||||||
| 32. | LoanSTAR Funding Group, Inc. (organized in Texas) | Bryan | TX | 12/08/97 | Student loan originations and secondary market. | Indirect Subsidiary | 100 | % | ||||||||
| 33. | Nelnet Academic Funding Solutions, LLC (organized in Nebraska) | Lincoln | NE | 08/15/05 | Student loan financing and management | Indirect Subsidiary | 100 | % | ||||||||
| 34. | College Bound Loans, Inc. (organized in Rhode Island) (f/k/a/ BST Holdings, Inc.) | Warwick | RI | 11/05/80 | Student loan origination | Indirect Subsidiary | 100 | % | ||||||||
| 35. | Nelnet Academic Services LLC (organized in Nebraska) (f/k/a Nelnet Mentor, LLC) | Lincoln | NE | 12/18/03 | Student loan services | Indirect Subsidiary | 100 | % | ||||||||
| 36. | Chela Education Funding, Inc. (organized in Nebraska) (f/k/a Student Partner Services, Inc.) | Lincoln | NE | 05/09/02 | Student loan origination | Indirect Subsidiary | 100 | % | ||||||||
| 37. | Loanstar Assets GP, LLC (organized in Delaware) | Lincoln | NE | 01/30/01 | Student loan financing and management | Indirect Subsidiary | 100 | % | ||||||||
| Date | Relationship to | Percentage | ||||||||||||||
| Name | City | State | Established | Description of Operations | Nelnet, Inc. | Ownership | ||||||||||
| 38. | Loanstar Assets LP, LLC (organized in Delaware) | Lincoln | NE | 01/30/01 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 39. | Loanstar Assets Partners, LP (organized in Delaware) | Lincoln | NE | 01/30/01 | Student loan financing and management | Indirect Subsidiary | 100 | % | ||||||||
| 40. | Nelnet Academic Private Loan Warehouse — I, LLC (organized in Delaware) | Lincoln | NE | 08/12/05 | Student loan financing | Indirect Subsidiary | 100 | % | ||||||||
| 41. | CUnet, LLC (organized in Delaware) | Wyckoff | NJ | 02/02/04 | Performance-based educational marketing, lead generation, and vendor management services. | Indirect Subsidiary | 100 | % | ||||||||
| 42. | Peterson’s Nelnet, LLC (formerly NELN Acquisition, LLC) (organized in Nebraska) | Lawrenceville | NJ | 07/19/06 | College search and selection, test preparation, and financial aid; online services for essay editing and instruction as well as resume writing. | Indirect Subsidiary | 100 | % | ||||||||
| 43. | M & P Building, LLC (organized in Nebraska) | Lincoln | NE | 10/06/06 | Real Estate | Direct/Indirect | 100 | % | ||||||||
| 44. | Nelnet Student Asset Funding Extendable CP, LLC (organized in Nebraska) | Lincoln | NE | 10/13/06 | Student Loan Financing | Indirect Subsidiary | 100 | % | ||||||||
| 45. | Lincoln Square Funding LLC (organized in Nebraska) | Lincoln | NE | 10/03/06 | Student Loan Financing | Indirect Subsidiary | 100 | % | ||||||||
| 46. | First National Life Insurance Company of the USA (a Nebraska domiciled life insurance company) | Lincoln | NE | 3/25/07 | Insurance programs | Indirect Subsidiary | 100 | % | ||||||||
| 47. | Education Solutions, Inc. | Lincoln | NE | 01/01/08 | Student Loan Financing | Indirect Subsidiary | 100 | % | ||||||||
Note: this list does not include Nelnet Student Loan Trusts utilized in asset backed security financings.