This is caused when the parent or student role is missing on the report admin access to the embedded report "Transcripts". 
  1. From any of the application dashboards, click View All.
  2. Click Report Admin.
  3. Search for Transcripts
  4. Click Role next to the Transcripts E report.
  5. Select the Parent or Student role from the Available Roles list and click Add to Group.
  6. Click Save & Exit.