A. Each public institution of higher education shall release an academic transcript directly to the employer or prospective employer of a student currently or formerly enrolled at such institution upon the request of the student.
B. No public institution of higher education shall condition the release of an academic transcript to a student currently or formerly enrolled at such institution on the payment of an outstanding debt if:
1. Such outstanding debt is less than $500;
2. Such outstanding debt is less than $1,000 and such currently or formerly enrolled student received a Federal Pell Grant at any time during his enrollment; or
3. Such currently or formerly enrolled student has enrolled in a repayment plan and has made at least three consecutive monthly payments on such outstanding debt.