New America – Identifying Warning Signs, Precipitating Events, and Risk Factors. “In reviewing the cases of college closures and speaking with experts who were on the ground at the time and who have studied them afterwards, it is increasingly clear that the causes of the closures themselves were, in fact, not precipitous at all. Regulators could have seen them coming and taken action to protect students and taxpayers. These recommendations seek to systematize and enhance the warning signs of possible closure sooner, so that regulators can pursue deeper reviews and, where necessary, take action sooner.”