I went to school last fall and the loans that got along with the pell grant weren't enough to cover school as I tought it would have. I couldn't afford to go back to school, I found another school recently that I am able to afford and I need my transcript from previous school. The question would be does any school have the right to keep anyone from getting their transcripts even if there is a balance owed?

I believe they can... those transcripts are a result of services THEY provided that YOU failed to pay in full for.

If you had paid in full, then it would be a different issue.

Yes, I had a similar issue with a college ( did not agree and refused to pay a specific fee) they will not still after 15 years send me a copy of my transcript.