Transactions and transaction numbers show the number of times the student’s information has been processed. New transactions can be caused by corrections performed by either the student or a school, or they can be caused by automatic functions in the Central Processing System (CPS), such as a change in the student’s Title IV information and status with the National Student Loan Data System (NSLDS).
The student’s transaction number is located in the upper right hand-corner of the SAR, right after the Social Security Number (SSN) and the first two letters of his/her last name.
Each time a Free Application for Federal Student Aid (FAFSA) or a correction to a Student Aid Report/Institutional Student Information Record (SAR/ISIR) is processed, a transaction number is created. For example, when the initial FAFSA is processed, transaction 01 is created. When a correction to the Student Aid Report (SAR) is processed, transaction 02 is created. When another correction to the student’s SAR is processed, transaction 03 is created.
Note: If a correction is made to a transaction prior to the latest one, then all the other information on the previous transaction, as well as the correction, replaces the most current information. For example: The student has 05 transactions already on file. You decide to correct transaction 03. Your corrections to transaction 03, plus all the other information on transaction 03, creates transaction 06. This could cancel any corrections to transactions 04 and 05.