Sec. 5. If a current or former student of an institution owes a debt to the institution in an amount that is more than one thousand dollars ($1,000), the institution may not:
(1) refuse to provide a transcript for a current or former student of the institution on the grounds that the student owes a debt to the institution;
(2) charge a higher fee for obtaining a transcript or provide less favorable treatment of a request for a transcript of a current or former student who owes a debt to the institution; or
(3) withhold from a current or former student's transcript any degrees earned on the grounds that the student owes a debt to the institution;
if the student has paid to the institution in the past year at least ten percent (10%) of the total amount of the debt owed to the institution or three hundred dollars ($300), whichever is less.