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Project on Predatory Student Lending Inc

EIN 87-4582545 · Jamaica Plain, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

PPSL'S MISSION IS TO USE LITIGATION AND ADVOCACY TO ELIMINATE PREDATORY PRACTICES IN HIGHER EDUCATION, AND TO RELIEVE CURRENT AND FUTURE BORROWERS FROM FRAUDULENT STUDENT LOAN DEBT.

Income
$5.9 million
Spending
$2.6 million
Spent on programs
80%
Reserves
22.7 months of spending
Largest source of income
fees for its services, 58%
Employees
14
Volunteers
0
Highest pay
$225,000, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 87% of charities in its peer group (civil rights, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 22.7 months of spending.

  • Debt

    20 of 20

    It owes 2% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 57% of income.

  • Income trend

    15 of 15

    Income rose 171% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 55% of charities in its peer group (civil rights, $1m to $10m).

  • Independent board

    25 of 25

    6 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $2.1 million spent. THE PROJECT ON PREDATORY STUDENT LENDING (PPSL) IS THE LEADING LEGAL NON-PROFIT ORGANIZATION REPRESENTING STUDENTS AGAINST PREDATORY COLLEGES AND LENDERS. PPSL'S UNIQUE MODEL OF IMPACT LITIGATION AND ADVOCACY DELIVERS RESULTS FOR DEFRAUDED STUDENTS AND DEMANDS SIGNIFICANT ACCOUNTABILITY AND BETTER OUTCOMES FOR STUDENT BORROWERS IN THE HIGHER EDUCATION SYSTEM.PPSL'S LANDMARK LEGAL VICTORIES ON BEHALF OF MORE THAN TWO MILLION STUDENT BORROWERS ACROSS THE NATION HAVE EXPOSED PREDATORY PRACTICES, HELD THE DEPARTMENT OF EDUCATION AND OTHER INSTITUTIONS ACCOUNTABLE TO THE LAW, AND INFLUENCED THE DIRECTION OF HIGHER EDUCATION POLICY.PPSL'S TRACK RECORD DEMONSTRATES THE IMPORTANCE OF BOLD, STRATEGIC LITIGATION AS AN INTERVENTION IN THE HIGHER EDUCATION SPACE. PPSL ENSURES THAT BORROWERS WILL BE SET FREE FROM FRAUDULENT STUDENT LOAN DEBT. OUR CASES ARE DESIGNED TO ESTABLISH LANDSCAPE-CHANGING PRECEDENT, WIN MEANINGFUL DEBT CANCELLATION, AND ORGANIZE BORROWERS AS IMPORTANT STAKEHOLDERS IN POLICY DEBATES ABOUT HIGHER EDUCATION. PPSL HOLDS THE GOVERNMENT ACCOUNTABLE FOR FAILED OVERSIGHT OF THE FEDERAL STUDENT LOAN PROGRAM. AS BORROWERS SUCCEED IN ENFORCING THEIR RIGHTS UNDER BORROWER DEFENSE, OUR LITIGATION WILL CONTINUE TO FOCUS ON HOLDING THE DEPARTMENT OF EDUCATION ACCOUNTABLE FOR GREEN LIGHTING SCHOOLS, PROGRAMS, AND PRACTICES THAT SHIFT AN UNACCEPTABLE AMOUNT OF RISK ONTO STUDENTS AND THEIR FAMILIES, AND TAXPAYERS AT LARGE. PPSL EXPOSES THE CORRUPTION AND FRAUD THAT IS RUNNING UP THE COST OF EDUCATION IN EVERY SECTOR. PPSL AIMS TO INCREASE THE PUBLIC'S UNDERSTANDING THAT PREDATORY BEHAVIORS IN EDUCATION ARE DRIVING UP THE COSTS OF EDUCATION AND THEY EXIST EVERYWHERE FROM FOR-PROFIT NURSING PROGRAMS TO ONLINE MASTER'S DEGREES AT BRAND NAME COLLEGES. PPSL PROMOTES ECONOMIC JUSTICE AND RACIAL EQUITY. STUDENT LOAN DEBT AND PREDATORY HIGHER EDUCATION PRACTICES DISPROPORTIONATELY AFFECT BLACK BORROWERS, PARTICULARLY BLACK WOMEN. PPSL IS COMMITTED TO BRINGING OUR MOST EFFECTIVE TOOLS TO BEAR IN ORDER TO END PREDATORY INCLUSION IN HIGHER EDUCATION.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 2022.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.