Protecting Education Privacy Act

Protecting Education Privacy Act - Amends provisions of the Family Educational Rights and Privacy Act of 1974 that prohibit the Department of Education from funding educational agencies or institutions that release student educational records (or personally identifiable information other than certain directory information) to any individual, agency, or organization without written parental consent.

Expands the list of individuals exempt from such prohibitions (thereby permitting the educational agencies or institutions participating in a Department of Education program to release records or identifiable information to such individuals without parental consent) to include authorized representatives of local educational authorities.

Defines "authorized representative," for purposes of determining the individuals authorized to access student records in specified circumstances, as an individual who is: (1) designated by the Comptroller General (GAO), Secretary of Education, or state or local educational authorities; and (2) under the direct control, as a contractor or employee, of such officials.

Prohibits students' educational records or personally identifiable information from being: (1) released by an authorized representative to any individual, agency, or organization, other than the official who has direct control over such representative; or (2) shared, without the written parental consent, for the development of commercial products or services.

Repeals Department of Education regulations that define "authorized representative," "early childhood education program," and "education program." Prohibits the Secretary from promulgating or enforcing any regulation that defines such programs.