Student Records Protection Act

This bill requires colleges and universities planning to close to create and submit a detailed record-management plan to their accrediting agency. The plan must cover how student records (including transcripts, billing, and financial aid) will be stored, accessed, and handled after closure, along with a timeline for providing student contact lists to federal and state agencies. It also mandates that institutions release all financial holds on records and stop charging students for copies for one year after closing, with a possible nominal fee after that period. These requirements apply to any institution notifying its accreditor of intended closure, starting five years after the bill's enactment.