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                                                                   EXHIBIT 10.79

                                  NELNET, INC.
                          EXECUTIVE OFFICERS BONUS PLAN

                  1.       PURPOSE.

                  Nelnet, Inc. has established this Nelnet, Inc. Executive
Officers Bonus Plan in order to provide the Company's Co-Chief Executive
Officers and its President with an opportunity to earn annual bonus compensation
based upon the Company's consolidated net income before taxes, as an incentive
and reward for their leadership, ability and exceptional services.

                  2.       DEFINITIONS.

                  For purposes of the Plan, the flowing terms shall be defined
as set forth below:

                  (a)      "Award" means the amount of bonus compensation to
which an Eligible Employee is entitled for each Plan Year in accordance with
Sections 4 and 5 of the Plan.

                  (b)      "Board" means the Board of Directors of the Company.

                  (c)      "Code" means the Internal Revenue Code of 1986, as
amended, including applicable regulations thereunder.

                  (d)      "Committee" means the Compensation Committee of the
Board.

                  (e)      "Company" means Nelnet, Inc., a Nebraska corporation,
or any successor corporation.

                  (f)      "Eligible Employee" means each of the Co-Chief
Executive Officers and the President of the Company.

                  (g)      "Plan" means the Nelnet, Inc. Executive Officers
Bonus Plan, as amended from time to time.

                  (h)      "Plan Year" means a calendar year or such other
period established by the Committee.

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                  3.       ADMINISTRATION.

                  The Plan shall be administered by the Committee. The Committee
shall have the authority to adopt, alter and repeal such administrative rules,
guidelines and practices governing the Plan as it shall deem advisable and to
interpret the terms and provisions of the Plan. All determinations made by the
Committee with respect to the Plan and Awards thereunder shall be final and
binding on all persons, including the Company and all Eligible Employees.

                  4.       DETERMINATION OF AWARDS.

                  The amount of the Award payable to each Eligible Employee for
each Plan Year shall be 0.85% of the Company's consolidated net income before
taxes for the Plan Year, computed in accordance with generally accepted
accounting principles; provided, however, that the maximum award for any Plan
Year payable to the President shall be $500,000.

                  5.       PAYMENT OF AWARD.

                  The Award of each Eligible Employee for a Plan Year shall be
paid in cash after the end of the Plan Year. If an Eligible Employee dies after
the end of a Plan Year but before receiving payment of any Award, the amount of
such Award shall be paid to a designated beneficiary or, if no beneficiary has
been designated, to the Eligible Employee's estate, in the form of a lump sum
payment in cash as soon as practicable after the Award for the Plan Year has
been determined.

                  6.       NONTRANSFERABILITY.

                  No Award or rights under this Plan may be transferred or
assigned other than by will or by the laws of descent and distribution.

                  7.       AMENDMENTS AND TERMINATION.

                  The Board may terminate the Plan at any time and may amend it
from time to time; provided, however, that no termination or amendment of the
Plan shall adversely affect the rights of an Eligible Employee or a beneficiary
to a previously earned Award.

                  8.       GENERAL PROVISIONS.

                  (a)      Nothing set forth in this Plan shall prevent the
Board from adopting other or additional compensation arrangements. Neither the
adoption of the Plan or any Award hereunder shall confer upon an Eligible
Employee any right to continued employment.

                  (b)      No member of the Board or the Committee, nor any
officer or employee of the Company acting on behalf of the Board or the
Committee, shall be personally liable for any action, determination or
interpretation taken or made with respect to the Plan, and all members of the
Board or the Committee and all officers or employees or the Company acting on
their behalf shall, to the extent permitted by law, be fully indemnified and
protected by the Company in respect of any such action, determination or
interpretation.

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                  9.       EFFECTIVE DATE.

                  The Plan shall be effective as of January 1, 2003.

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