Reverse Transfer Efficiency Act of 2017 This bill amends the General Education Provisions Act to allow the release of a transfer student's educational records from an institution of postsecondary education where a student earned credit for coursework to an institution of postsecondary education where the student was previously enrolled in order to apply the student's coursework and credits toward completion of a recognized postsecondary credential, such as an associate's degree. (In the case of a student who does not complete a bachelor's degree after transferring to a four-year institution from a two-year institution, the credits earned at the four-year institution may be applied towards a recognized postsecondary credential at the two-year institution.) Specifically, the bill allows the Department of Education to provide funding to an institution of postsecondary education that releases a student's records of postsecondary coursework and credits without the consent of the student or the student's parents if the student provides written consent prior to receiving the credential.