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This is a contract issue more than likely especially since you are dealing with a private school. If there was nothing in the contract that you signed on this subject or nothing in the contract that indirectly made you agree to comply with all school policies and procedures (assuming that withholding records under such circumstances is written in their handbook somewhere), then you may be able to get a court order to force them to turn it over since you were never informed or agreed to such withholding.
However, you should read the link below to get a feel for how the courts have viewed this issue.
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Okay, then you son (not you) may be able to argue that he is entitled to those records since he never entered into a contract for payment and that those records contain his personal information.
You, as parents, may be able to argue that you were never put on notice that withholding of the records was part of the deal and since you have paid at least part of the tuition, the school is now estopped from asserting the withholding argument.
Where a student is asked to withdraw for nonpayment, the independent school should recognize that it is under a duty to take reasonable measures to mitigate the losses resulting from the action.
The school will try to argue that since you breached first, they have no duty to carry out the balance of the contract. So you are trying to make some argument that the court case accept based on what is fair. This is still uphill for you, but worth a shot.