Section 34G. In the event that any private educational institution providing a course of study through the twelfth grade level ceases operation, the owner or administrators shall transfer transcripts of all students or former students to the department of education; provided, however, that in the case of a student who is transferring to another private or public educational institution, such student's records shall be transferred to the school the student will be attending, rather than to the department. The department may, upon request of a former student of an educational institution which has transferred transcripts pursuant to this provision, provide such student with a copy of his transcript. For the purposes of this section a transcript shall mean the documentary record or records which contain the name, address and phone number of the student, the student's birthdate, name, address and phone number of parent or guardian, course titles, grades, or equivalent thereof when grades are not applicable, course credit, grade level completed and the year completed. Said educational institution shall limit the student record information transmitted to the department to that required to be contained in the transcript.