In the FAFSA process , what is a FAFSA transaction ?

Each time a FAFSA or a correction to a FAFSA is processed, a transaction number is created. For example, the initial FAFSA is processed, creating Transaction 01. A correction to your Student Aid Report (SAR) is processed, creating Transaction 02. Another correction to your SAR is processed, creating Transaction 03. Each time that a new transaction is created, we will send you a new SAR in the mail. All schools listed on the SAR will also receive an electronic copy of the new SAR. Your transaction number can be located in the upper right hand corner of your Student Aid Report (SAR), beneath your Social Security Number and to the right of your name ID (the first two letters of your last name).