Prospective is an adjective meaning (1) likely to happen or (2) likely to become. It has no other definitions. Perspective is almost always a noun. It means (1) a view, (2) the angle from which something is viewed, and (3) the proper appearance of objects in relation to each other. There is no crossover between prospective and perspective.
Examples
These writers use prospective correctly:
No modern-day Samuel Johnson or Noah Webster ponders each prospective entry there. [New York Times]
Some of the best preparation for the interview occurs when you research the prospective employer. [The Union of Grass Valley]
And these writers use perspective well:
From a fan’s perspective, it was a great game to watch. [Yahoo! Sports]
The fourth section gives a global and historical perspective, perhaps to counterbalance the previous section … [Metapsychology]
Erroneous use of perspective in place of prospective is a common error—for example:
For example, the school is developing a personalized URL option that would allow perspective students to narrow the scope of the school homepage . . . [News-Herald]
