As outlined by the Act, a student may not inspect and review the following: financial information submitted by parent(s)/guardian(s); letters of recommendation to which the student has waived the rights of inspection and review; or education records containing information about more than one student, in which case the institution will permit access only to that part of the record which pertains to the inquiring student. The institution is not required to permit a student to inspect and review confidential letters and recommendations placed in the files prior to January 1, 1975, provided the letters were collected under established policies of confidentiality and were used only for the purposes for which they were collected.