Nelnet reports portfolio growth

Nelnet, Inc. reported net income of $62.5 million for the first half of 2005, compared with $96.4 million for the first half of 2004. Net student loan assets on June 30, 2005 were $15.7 billion, up over 28% from last year's $12.2 billion. Nelnet experienced a record level of activity in the second quarter with its direct-to-consumer channel, as borrowers submitted student loan consolidation applications before the interest rate increase on July 1. For the second quarter, net new consolidation loan originations was $404.3 million.