Which types of records are still subject to FERPA when shared with outside parties?

The correct answer is that treatment records are subject to FERPA when shared with outside parties because they are considered part of a student's educational record when they are maintained by an educational institution that receives federal funding. Under FERPA, any records that contain information directly related to a student and are maintained by an educational agency or institution fall under the category of educational records. Treatment records, which often include mental health counseling or psychological treatment documents, are typically maintained by educational institutions and thus are protected under FERPA regulations.

The other types of records listed, while they may pertain to students, are governed by different regulations or may be excluded from FERPA's scope depending on their context or the nature of the institution maintaining them. Academic records are indeed part of educational records and thus subject to FERPA. Medical records are primarily governed by HIPAA when they are held by healthcare providers and can fall outside of FERPA protections when they are not maintained by the educational institution. Financial records, such as those related to student financial aid, may also fall under FERPA but can have specific stipulations regarding their protection and sharing. However, treatment records specifically illustrate the intersection of educational and health care rights under FERPA protections.