# Stephen F. Butterfield

> Stephen Fred “Steve” Butterfield was a Nelnet co-founder, former co-chief executive and vice chairman whose career spanned investment banking, municipal finance and student loans. He helped establish the Nelnet Foundation and Nelnet Scholars program, supported Arizona State University and co-chaired its stadium fundraising campaign. He died on April 16, 2018; Nelnet’s annual Butterfield Leadership Award continues his legacy.

- **Role:** Education finance entrepreneur; former investment banker and corporate executive
- **Organizations:** Nelnet, Inc., Student Loan Acquisition Authority of Arizona, Boettcher and Company, Nelnet Foundation, Sun Devil Club, Arizona State University President’s Club
- **Education:** B.S. in Business Administration, Arizona State University
- **Known for:** Co-founded Nelnet with Mike Dunlap in 1996 and helped take it public in 2003., Helped establish the Nelnet Foundation and Nelnet Scholars program., Co-chaired ASU’s Sun Devil Stadium Momentum campaign.

## Career timeline

- **1970** — Left Hutchinson, Kansas, to attend Arizona State University.
- **1974** — Earned a B.S. in Business Administration from Arizona State University.
- **Before 1989** — Spent 15 years in investment banking, including his final four years at Boettcher and Company specializing in municipal finance.
- **1989** — Entered the student loan industry; held leadership roles in Scottsdale secondary marketing facilities.
- **1990** — Began acquiring student loan portfolios with Mike Dunlap.
- **1996** — Co-founded the business that became Nelnet with Mike Dunlap; served as vice chairman and director of its predecessor.
- **2000** — Became vice chairman of Nelnet, Inc.
- **2003** — Became co-CEO in August as Nelnet entered its public-company chapter.
- **2007** — Stepped down as co-CEO in May and continued as vice chairman and shareholder.
- **2014** — Co-chaired the Sun Devil Stadium Momentum fundraising campaign.
- **2018** — Died on April 16; had remained Nelnet’s board vice chairman.
- **2019** — ASU recognized Butterfield, Bill Kent and Jack Furst with a student-athlete facility bearing their names.
- **2022** — Nelnet established the Steve Butterfield Award for Excellence in Leadership.

## Achievements

- Co-founded Nelnet with Mike Dunlap in 1996 and helped take it public in 2003.
- Helped establish the Nelnet Foundation and Nelnet Scholars program.
- Co-chaired ASU’s Sun Devil Stadium Momentum campaign.
- With Bill Kent and Jack Furst, collectively donated $40 million toward ASU’s stadium and community-union vision.
- Namesake of the Steve Butterfield Award for Excellence in Leadership, established in 2022.

## Latest updates

- **2026-08** — Nelnet announced Mike Soucie as the 2026 Steve Butterfield Award for Excellence in Leadership recipient.
- **2025-06** — Wendi Beck received the 2025 Butterfield Leadership Award.
- **2024-07** — Nelnet published its profile of 2024 award recipient Becky Pollock.

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Profile page: https://yespress.io/stephen-f-butterfield
Published by YesPress — https://yespress.io
Last updated: 2026-10-16