Question 1
Right!
As Horace is enrolled at Acme Community College, he is, under FERPA, an "eligible student". That means that Horace, and not his parents, has the right to inspect and review his education records. He may, if he chooses, authorize Acme to disclose his education records to his parents.
FERPA is clear in affording a college or university student the authority to release education records. Even a student's spouse does not have the right of access to education records without the student's consent.
FERPA does allow, however, an institution to disclose education records to parents of a dependent student, as defined by the Internal Revenue Code. This is generally done pursuant to a school policy allowing for such release, and the education records are disclosed to the parents typically when the parents provide a copy of their most recent federal income tax form.