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EX-21.1 6 nni-12312023xex_211.htm EX-21.1 NELNET INC - Subsidiaries of Nelnet, Inc.


Exhibit 21.1

List of Direct and Indirect Subsidiaries of Nelnet, Inc. as of December 31, 2023
NameOrganized inRelationship to Nelnet Inc.Percentage Ownership
1 1867 - AGATE20, LLCNebraskaIndirect100.00
2 1867 - CC23, LLCNebraskaIndirect100.00
3 1867 - Excelsior, LLCNebraskaIndirect100.00
4 1867 - GRNE23, LLCNebraskaIndirect100.00
5 1867 - GS20, LLCNebraskaIndirect100.00
6 1867 - NelGun Fund 2, LLCNebraskaIndirect100.00
7 1867 - NelRock24, LLCDelawareIndirect100.00
8 1867 - NelStar23, LLCDelawareIndirect100.00
9 1867 - NelStar24, LLCDelawareIndirect100.00
10 1867 - NUG21, LLCNebraskaIndirect100.00
11 1867 - NY1, LLCNebraskaIndirect100.00
12 1867 - REV24, LLCDelawareIndirect100.00
13 1867 - RH23, LLCDelawareIndirect100.00
14 1867 - RP, LLCNebraskaIndirect100.00
15 1867 - RP20, LLCNebraskaIndirect100.00
16 1867 - RP23, LLCNebraskaIndirect100.00
17 1867 - SOL21, LLCNebraskaIndirect100.00
18 1867 - SOL22, LLCNebraskaIndirect100.00
19 1867 - SR, LLCNebraskaIndirect100.00
20 1867 Capital-1, LLCNebraskaDirect100.00
21 1867-C2, LLCNebraskaIndirect100.00
22 1867-C2-NY, LLCNebraskaIndirect100.00
23 1867-NelShare23, LLCDelawareIndirect100.00
24 1867-SeaNet23, LLCDelawareIndirect100.00
25 1867-SRiver24, LLCDelawareIndirect100.00
26 ACM F Acquisition, LLCNebraskaIndirect100.00
27 Braxton School of Puerto Rico, Inc.PennsylvaniaIndirect100.00
28 CampusGuard, LLCNebraskaIndirect100.00
29 CampusGuard Pty LtdAustraliaIndirect100.00
30 Community Development Opportunity Fund III, LLCNebraskaIndirect100.00
31 Community Development Opportunity Fund V, LLCNebraskaIndirect100.00
32 Community Development Opportunity Fund VI, LLCNebraskaDirect100.00
33 Community Development Opportunity Fund VII, LLCNebraskaDirect100.00
34 Community Development Opportunity Fund VIII, LLCNebraskaIndirect100.00
35 EFS Finance Co., LLCNebraskaIndirect100.00
36 FACTS Education CorporationNebraskaIndirect100.00
37 FACTS Education Solutions, LLCArizonaIndirect100.00
38 FACTS Management AUS Pty LtdAustraliaIndirect100.00
39 First National Life Insurance Company of the USA, Inc.NebraskaIndirect100.00
40 FM Systems, LLCDelawareIndirect100.00
41 Great Lakes Educational Loan Services, Inc.WisconsinIndirect100.00
42 HigherSchool Publishing CompanyIllinoisIndirect100.00


43 Municipal Tax Investment, LLCNebraskaDirect100.00
44 Municipal Tax Property, LLCNebraskaIndirect100.00
45 National Education Loan Network, Inc.NebraskaDirect100.00
46 Nelnet Academic Services, LLCNebraskaDirect100.00
47 Nelnet Accident Captive Insurance, LLCUtahIndirect100.00
48 Nelnet Bank, Inc.UtahDirect100.00
49 Nelnet Business Solutions - Canada Inc.OntarioIndirect100.00
50 Nelnet Business Solutions, Inc.NebraskaIndirect100.00
51 Nelnet Captive Insurance Company, LLCUtahIndirect100.00
52 Nelnet Community Engagement, LLCNebraskaIndirect100.00
53 Nelnet Core Assurance, LLCUtahIndirect100.00
54 Nelnet Devco, LLCNebraskaIndirect100.00
55 Nelnet Diversified Solutions, LLCNebraskaDirect100.00
56 Nelnet Education Loan Funding, Inc.NebraskaIndirect100.00
57 Nelnet FFELP Student Loan Warehouse-I, LLCDelawareIndirect100.00
58 Nelnet Finance Corp.NebraskaIndirect100.00
59 Nelnet Fund Management, LLCNebraskaDirect100.00
60 Nelnet Government Services, LLCNebraskaIndirect100.00
61 Nelnet Harmony Captive Insurance, LLCUtahIndirect100.00
62 Nelnet Insurance Services, LLCNebraskaIndirect100.00
63 Nelnet International Pty LtdAustraliaIndirect100.00
64 Nelnet Loan Acquisition CorporationNebraskaIndirect100.00
65 Nelnet Management Corporation -1NevadaIndirect100.00
66 Nelnet Payment Services, LLCNebraskaIndirect100.00
67 Nelnet Philippines, Inc.PhilippinesIndirect100.00
68 Nelnet Private Education Loan Funding, LLCDelawareIndirect100.00
69 Nelnet Private Student Loan Financing CorporationNebraskaIndirect100.00
70 Nelnet Private Student Loan Warehouse-2, LLCDelawareIndirect100.00
71 Nelnet Private Student Loan Warehouse-I, LLCDelawareIndirect100.00
72 Nelnet Real Estate Ventures, LLCNebraskaIndirect100.00
73 Nelnet Servicing, LLCNebraskaIndirect100.00
74 Nelnet Solar Holdings, LLCNebraskaIndirect100.00
75 Nelnet Solar, LLCNebraskaDirect100.00
76 Nelnet Student Loan Depositor, LLCNebraskaIndirect100.00
77 Nelnet Student Loan Funding II Management CorporationNebraskaIndirect100.00
78 Nelnet Student Loan Funding II, LLCDelawareIndirect100.00
79 Nelnet Student Loan Funding III, LLCDelawareIndirect100.00
80 Nelnet Student Loan Funding Management CorporationNevadaIndirect100.00
81 Nelnet Student Loan Funding, LLCDelawareIndirect100.00
82 Nelnet Sustainable Ventures, LLCNebraskaIndirect100.00
83 Nelnet Tenant Insurance Company, LLCUtahIndirect100.00
84 Nelnet UNL Alliance, LLCNebraskaDirect100.00
85 NHELP – II, LLCDelawareIndirect100.00
86 NHELP – III, LLCDelawareIndirect100.00
87 NNI-SP Holdings I, LLCDelawareIndirect100.00
88 Wachovia Education Loan Funding, LLCDelawareIndirect100.00
89 Community Development Opportunity Fund I, LLCNebraskaDirect99.91


90 Whitetail Rock Capital Management, LLCNebraskaIndirect90.00
91 Whitetail Rock Fund Management, LLCNebraskaIndirect90.00
92 Excellence 23, LLCNebraskaIndirect88.00
93 Defenders CS, LLCIllinoisIndirect80.00
94 ENRG Farms Building 01, LLCNebraskaIndirect80.00
95 ENRG Farms Building 02, LLCNebraskaIndirect80.00
96 ENRG Farms Building 03, LLCNebraskaIndirect80.00
97 ENRG-Nelnet, LLCNebraskaIndirect80.00
98 GRNE Solarfield 05, LLCIllinoisIndirect80.00
99 GRNE Solarfield 06, LLCIllinoisIndirect80.00
100 GRNE Solarfield 07, LLCIllinoisIndirect80.00
101 GRNE Solarfield 08, LLCIllinoisIndirect80.00
102 GRNE Solarfield 09, LLCIllinoisIndirect80.00
103 GRNE Solarfield 10, LLCIllinoisIndirect80.00
104 GRNE Solarfield 11, LLCIllinoisIndirect80.00
105 GRNE Solarfield 12, LLCIllinoisIndirect80.00
106 GRNE Solarfield 13, LLCIllinoisIndirect80.00
107 GRNE Solarfield 14, LLCIllinoisIndirect80.00
108 GRNE Solarfield 16, LLCIllinoisIndirect80.00
109 GRNE Solarfield 17, LLCIllinoisIndirect80.00
110 GRNE-Nelnet Holdco 2023, LLCNebraskaIndirect80.00
111 GRNE-Nelnet, LLCNebraskaIndirect80.00
112 GSD, LLCNebraskaIndirect80.00
113 Residential Solar Holdings, LLCNebraskaIndirect80.00
114 SF MPU WI, LLCWisconsinIndirect80.00
115 Community Development Opportunity Fund II, LLCNebraskaDirect78.11
116 1867 - NelKSI, LLCNebraskaIndirect65.00
117 1867 - SRiver23, LLCDelawareIndirect59.00
118 Community Development Opportunity Fund IV, LLCNebraskaDirect50.00
119 1867 - Kear21, LLCNebraskaIndirect46.00
120 1867 - REV22, LLCNebraskaIndirect37.00
121 1867 - NELKSI21, LLCNebraskaIndirect27.00
122 1867 - CC22, LLCNebraskaIndirect20.00
123 1867 - GS21, LLCNebraskaIndirect19.00
124 1867 - NelSun21, LLCNebraskaIndirect19.00
125 1867 - Riley Road, LLCNebraskaIndirect14.00
126 1867 - SSI21, LLCNebraskaIndirect12.62
127 1867 - GS20A, LLCNebraskaIndirect11.00
128 1867 - GS22CA, LLCDelawareIndirect10.00
129 1867 - Nexcel22, LLCDelawareIndirect10.00
130 1867 - REV23, LLCNebraskaIndirect10.00
131 1867 - RP21, LLCNebraskaIndirect10.00
132 1867 - SOL21A, LLCNebraskaIndirect10.00
133 1867 - SOL23, LLCNebraskaIndirect10.00
134 1867 - SSI22, LLCNebraskaIndirect10.00
135 1867 - SSI22A, LLCDelawareIndirect10.00
136 1867 - SSI23, LLCDelawareIndirect10.00


137 Filecoin NNI Renewable Energy Fund, LLCDelawareIndirect10.00
138 IBKR NNI Renewable Energy Fund, LLCDelawareIndirect10.00
139 Ripple Nelnet Renewable Energy Fund, LLCDelawareIndirect10.00
140 GRNE Solarfield 04, LLCIllinoisIndirect3.77
141 1867 - GS23CO, LLCNebraskaIndirect3.00
142 Carbonvert NNI Renewable Energy Fund, LLCNebraskaIndirect3.00

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