Summary:

Student records: Except for specific exceptions, schools must have a student's permission to share their educational records. Students, and former students can inspect their educational records.  They can request the records be corrected if they feel the records are incorrect. 

Directory information: Schools must list what they consider to be "directory information" about students. Students and former students may block the publication of such directory information about themselves.  Such blocks are permanent unless removed by the student. Information not included in the list of directory information may not be published. 
 
Students must be notified of their rights under FERPA.

The FERPA law and regulations

The Family Educational Rights and Privacy Act (FERPA) itself
The U.S. government regulations about implementing FERPA

U.S. Government FERPA-related web sites

FERPA overview
Family Policy Compliance Office

Q&A format guideline for students, parents and administrators to FERPA

FERPA web sites at some other schools

Belmont University
Cal Poly State University
Catholic University of America
Dallas County Community College District
Idaho State University
New York University
Seattle University
University of Arizona
University of Pittsburg
University of Southern California