Protect Minority Student Borrowers Act This bill prohibits discrimination on the basis of a credit applicant's institution of higher education (IHE). Specifically, the bill makes it unlawful for a private education lender to discriminate against a credit applicant based on the IHE that the applicant plans to attend, currently attends, or previously attended. The Department of Justice may bring a civil action against a private education lender for violations. The bill also requires the Government Accountability Office to study and report on the extent to which private education lenders discriminate against applicants who attend minority-serving IHEs.