EX-21.1 4 nni-12312024xex_211.htm EX-21.1

Exhibit 21.1

List of Direct and Indirect Subsidiaries of Nelnet, Inc. as of December 31, 2024

Name

Organized in

Relationship to Nelnet Inc.

Percentage Ownership

1

1867 - AGATE20, LLC

Nebraska

Indirect

100.00

2

1867 - CC23, LLC

Nebraska

Indirect

100.00

3

1867 - Excelsior, LLC

Nebraska

Indirect

100.00

4

1867 - GRNE23, LLC

Nebraska

Indirect

100.00

5

1867 - GS20, LLC

Nebraska

Indirect

100.00

6

1867 - NelStar24, LLC

Delaware

Indirect

100.00

7

1867 - NUG21, LLC

Nebraska

Indirect

100.00

8

1867 - NY1, LLC

Nebraska

Indirect

100.00

9

1867 - REV24, LLC

Delaware

Indirect

100.00

10

1867 - RP20, LLC

Nebraska

Indirect

100.00

11

1867 - RP23, LLC

Nebraska

Indirect

100.00

12

1867 - SOL21, LLC

Nebraska

Indirect

100.00

13

1867 - SOL22 LLC

Nebraska

Indirect

100.00

14

1867 - SR, LLC

Nebraska

Indirect

100.00

15

1867 Capital-1, LLC

Nebraska

Direct

100.00

16

1867-ActNet25, LLC

Nebraska

Indirect

100.00

17

1867-C2, LLC

Nebraska

Indirect

100.00

18

1867-C2-NY, LLC

Nebraska

Indirect

100.00

19

1867-KingNet24, LLC

Nebraska

Indirect

100.00

20

1867-NelShare23, LLC

Delaware

Indirect

100.00

21

1867-NetBlack I, LLC

Nebraska

Indirect

100.00

22

1867-SeaNet23, LLC

Delaware

Indirect

100.00

23

1867-SeaNet24, LLC

Nebraska

Indirect

100.00

24

1867-SRiver24, LLC

Delaware

Indirect

100.00

25

2024-3AL Loan Transferor, LLC

Delaware

Indirect

100.00

26

ACM F Acquisition, LLC

Nebraska

Indirect

100.00

27

Braxton School of Puerto Rico, Inc.

Pennsylvania

Indirect

100.00

28

CampusGuard, LLC

Nebraska

Indirect

100.00

29

CampusGuard Pty Ltd

Australia

Indirect

100.00

30

Community Development Opportunity Fund I, LLC

Nebraska

Direct

100.00

31

Community Development Opportunity Fund III, LLC

Nebraska

Indirect

100.00

32

Community Development Opportunity Fund IV, LLC

Nebraska

Indirect

100.00

33

Community Development Opportunity Fund V, LLC

Nebraska

Direct

100.00

34

Community Development Opportunity Fund VI, LLC

Nebraska

Indirect

100.00

35

Community Development Opportunity Fund VII, LLC

Nebraska

Indirect

100.00

36

Community Development Opportunity Fund VIII, LLC

Nebraska

Indirect

100.00

37

Defenders CS, LLC

Illinois

Indirect

100.00

38

Education Funding Capital I, LLC

Delaware

Indirect

100.00

39

EF Investment, LLC

Nebraska

Indirect

100.00

40

EFS Finance Co., LLC

Nebraska

Indirect

100.00

41

ENRG Farms Building 01, LLC

Nebraska

Indirect

100.00

42

ENRG Farms Building 02, LLC

Nebraska

Indirect

100.00

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43						ENRG Farms Building 03, LLC			Nebraska			Indirect			100.00
44						ENRG-Nelnet, LLC			Nebraska			Indirect			100.00
45						FACTS Education Corporation			Nebraska			Indirect			100.00
46						FACTS Education Solutions, LLC			Arizona			Indirect			100.00
47						FACTS Management AUS Pty Ltd			Australia			Indirect			100.00
48						First National Life Insurance Company of the USA, Inc.			Nebraska			Indirect			100.00
49						FM Systems, LLC			Delaware			Indirect			100.00
50						Great Lakes Educational Loan Services, Inc.			Wisconsin			Indirect			100.00
51						GRNE Solarfield 05, LLC			Illinois			Indirect			100.00
52						GRNE Solarfield 06, LLC			Illinois			Indirect			100.00
53						GRNE Solarfield 07, LLC			Illinois			Indirect			100.00
54						GRNE Solarfield 08, LLC			Illinois			Indirect			100.00
55						GRNE Solarfield 09, LLC			Illinois			Indirect			100.00
56						GRNE Solarfield 10, LLC			Illinois			Indirect			100.00
57						GRNE Solarfield 11, LLC			Illinois			Indirect			100.00
58						GRNE Solarfield 12, LLC			Illinois			Indirect			100.00
59						GRNE Solarfield 13, LLC			Illinois			Indirect			100.00
60						GRNE Solarfield 14, LLC			Illinois			Indirect			100.00
61						GRNE Solarfield 16, LLC			Illinois			Indirect			100.00
62						GRNE Solarfield 17, LLC			Illinois			Indirect			100.00
63						GRNE-Nelnet Holdco 2023, LLC			Nebraska			Indirect			100.00
64						GRNE-Nelnet, LLC			Nebraska			Indirect			100.00
65						GSD, LLC			Nebraska			Indirect			100.00
66						HigherSchool Publishing Company			Illinois			Indirect			100.00
67						Municipal Tax Investment, LLC			Nebraska			Direct			100.00
68						Municipal Tax Property, LLC			Nebraska			Indirect			100.00
69						National Education Loan Network, Inc.			Nebraska			Direct			100.00
70						Nelnet Academic Services, LLC			Nebraska			Direct			100.00
71						Nelnet Accident Captive Insurance, LLC			Utah			Indirect			100.00
72						Nelnet Bank, Inc			Utah			Direct			100.00
73						Nelnet Business Solutions - Canada, Inc.			Ontario			Indirect			100.00
74						Nelnet Business Solutions, Inc.			Nebraska			Indirect			100.00
75						Nelnet Captive Insurance Company, LLC			Utah			Indirect			100.00
76						Nelnet Core Assurance LLC			Utah			Indirect			100.00
77						Nelnet Devco, LLC			Nebraska			Indirect			100.00
78						Nelnet Diversified Solutions, LLC			Nebraska			Direct			100.00
79						Nelnet Education Loan Funding, Inc.			Nebraska			Indirect			100.00
80						Nelnet FFELP Student Loan Warehouse-I, LLC			Delaware			Indirect			100.00
81						Nelnet FFELP Student Loan Warehouse-III, LLC			Delaware			Indirect			100.00
82						Nelnet Finance Corp.			Nebraska			Indirect			100.00
83						Nelnet Fund Management, LLC			Nebraska			Direct			100.00
84						Nelnet Government Services, LLC			Nebraska			Indirect			100.00
85						Nelnet Harmony Captive Insurance, LLC			Utah			Indirect			100.00
86						Nelnet Insurance Services, LLC			Nebraska			Indirect			100.00
87						Nelnet International Pty Ltd			Australia			Indirect			100.00
88						Nelnet Loan Acquisition Corporation			Nebraska			Indirect			100.00
89						Nelnet Management Corporation -1			Nevada			Indirect			100.00

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90						Nelnet Payment Services, LLC			Nebraska			Indirect			100.00
91						Nelnet Philippines, Inc.			Philippines			Indirect			100.00
92						Nelnet Private Education Loan Funding, LLC			Delaware			Indirect			100.00
93						Nelnet Private Student Loan Financing Corporation			Nebraska			Indirect			100.00
94						Nelnet Private Student Loan Warehouse-2, LLC			Delaware			Indirect			100.00
95						Nelnet Private Student Loan Warehouse-I, LLC			Delaware			Indirect			100.00
96						Nelnet Real Estate Ventures, LLC			Nebraska			Indirect			100.00
97						Nelnet Servicing, LLC			Nebraska			Indirect			100.00
98						Nelnet Solar Holdings, LLC			Nebraska			Indirect			100.00
99						Nelnet Solar, LLC			Nebraska			Direct			100.00
100						Nelnet Student Loan Depositor, LLC			Nebraska			Indirect			100.00
101						Nelnet Student Loan Funding II Management Corporation			Nebraska			Indirect			100.00
102						Nelnet Student Loan Funding II, LLC			Delaware			Indirect			100.00
103						Nelnet Student Loan Funding III, LLC			Delaware			Indirect			100.00
104						Nelnet Student Loan Funding Management Corporation			Nevada			Indirect			100.00
105						Nelnet Student Loan Funding, LLC			Delaware			Indirect			100.00
106						Nelnet Sustainable Ventures, LLC			Nebraska			Indirect			100.00
107						Nelnet Tenant Insurance Company, LLC			Utah			Indirect			100.00
108						Nelnet UK Captive Insurance Company, LLC			Utah			Indirect			100.00
109						Nelnet UNL Alliance, LLC			Nebraska			Direct			100.00
110						NHELP – II, LLC			Delaware			Indirect			100.00
111						NHELP – III, LLC			Delaware			Indirect			100.00
112						NNI-SP Holdings I, LLC			Delaware			Indirect			100.00
113						NNI-SQ Holdings I, LLC			Nebraska			Indirect			100.00
114						NRE, LLC			Nebraska			Direct			100.00
115						Residential Solar Holdings, LLC			Nebraska			Indirect			100.00
116						SF MPU WI, LLC			Wisconsin			Indirect			100.00
117						Wachovia Education Loan Funding, LLC			Delaware			Indirect			100.00
118						Whitetail Rock Capital Management, LLC			Nebraska			Indirect			90.00
119						Whitetail Rock Fund Management, LLC			Nebraska			Indirect			90.00
120						Excellence 23, LLC			Nebraska			Indirect			88.00
121						1867-NelShare24, LLC			Delaware			Indirect			79.00
122						Community Development Opportunity Fund II, LLC			Nebraska			Indirect			78.11
123						2024-3AL MOA, LLC			Delaware			Indirect			75.64
124						1867 - NelKSI, LLC			Nebraska			Indirect			65.00
125						1867 - SRiver23, LLC			Delaware			Indirect			62.00
126						1867 - NelRock24, LLC			Delaware			Indirect			47.00
127						1867 - Kear21, LLC			Nebraska			Indirect			46.00
128						1867 - REV22, LLC			Nebraska			Indirect			37.00
129						1867-GS24CO, LLC			Nebraska			Indirect			31.00
130						1867 - NELKSI21, LLC			Nebraska			Indirect			27.00
131						1867 - CC22, LLC			Nebraska			Indirect			21.00
132						1867 - GS21, LLC			Nebraska			Indirect			19.00
133						1867 - NelSun21, LLC			Nebraska			Indirect			19.00
134						1867 - GS23CO, LLC			Nebraska			Indirect			14.00
135						1867 - SSI21, LLC			Nebraska			Indirect			12.62
136						1867 - GS20A, LLC			Nebraska			Indirect			11.00

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137						1867 - CC24, LLC			Nebraska			Indirect			10.00
138						1867 - GS22CA, LLC			Delaware			Indirect			10.00
139						1867 - Nexcel22, LLC			Delaware			Indirect			10.00
140						1867 - REV23, LLC			Nebraska			Indirect			10.00
141						1867 - RP21, LLC			Nebraska			Indirect			10.00
142						1867 - SOL21A, LLC			Nebraska			Indirect			10.00
143						1867 - SOL23 LLC			Nebraska			Indirect			10.00
144						1867 - SSI22, LLC			Nebraska			Indirect			10.00
145						1867 - SSI22A, LLC			Delaware			Indirect			10.00
146						1867 - SSI23, LLC			Delaware			Indirect			10.00
147						1867-RP Fund 8, LLC			Delaware			Indirect			10.00
148						Filecoin NNI Renewable Energy Fund, LLC			Delaware			Indirect			10.00
149						IBKR NNI Renewable Energy Fund, LLC			Delaware			Indirect			10.00
150						Ripple Nelnet Renewable Energy Fund, LLC			Delaware			Indirect			10.00
151						1867-NelShare24A, LLC			Delaware			Indirect			7.00
152						GRNE Solarfield 04, LLC			Illinois			Indirect			4.00
153						Carbonvert NNI Renewable Energy Fund, LLC			Nebraska			Indirect			3.00

Note: This list does not include Nelnet Student Loan Trusts utilized in asset backed security financings.