TEXT - Fitch affirms multiple Nelnet Student Loan Trusts

Wed Feb 13, 2013 1:19pm EST

Feb 13 - Fitch Ratings affirms senior student loan notes at 'AAAsf' and
subordinate notes at 'BBB-'issued by Nelnet Student Loan Trust 2006-1 and Nelnet
Student Loan Trust 2006-2. The Rating Outlook on all senior notes, which is tied
to the sovereign rating of the U.S. government, remains Negative, while the
Rating Outlook on the subordinate notes remains Stable. Fitch used its 'Global
Structured Finance Rating Criteria', and 'Rating U.S. Federal Family Education
Loan Program Student Loan ABS' to review the ratings.   

KEY RATING DRIVERS

The ratings on the senior and subordinate notes are affirmed based on the 
sufficient level of credit enhancement to cover the applicable risk factor 
stresses. Credit enhancement for the senior and subordinate notes consists of 
overcollateralization and projected minimum excess spread, while the senior 
notes also benefit from subordination provided by the class B note. 

Fitch has taken the following rating actions:

Nelnet Student Loan Trust 2006-1:

--Class A-3 PIF;
--Class A-4 affirmed at 'AAAsf'; Outlook Negative;
--Class A-5 affirmed at 'AAAsf'; Outlook Negative;
--Class A-6 affirmed at 'AAAsf'; Outlook Negative;
--Class B affirmed at 'BBB-sf'; Outlook Stable.

Nelnet Student Loan Trust 2006-2:
--Class A-3 PIF;
--Class A-4 affirmed at 'AAAsf'; Outlook Negative;
--Class A-5 affirmed at 'AAAsf'; Outlook Negative;
--Class A-6 affirmed at 'AAAsf'; Outlook Negative;
--Class A-7 affirmed at 'AAAsf'; Outlook Negative;
--Class B affirmed at 'BBB-sf'; Outlook Stable.