From the Associated Press — A Catholic graduate college that has operated in Detroit for 92 years will close in December at the end of its upcoming fall semester. Marygrove College announced Wednesday it had informed staff and its 305 students of the decision due to financial reasons. It closed its undergraduate programs two years ago. Founded by the sisters of the Immaculate Heart of Mary, Marygrove opened in 1905 as St. Mary’s College in Monroe and relocated to Detroit in 1927. Marygrove President Elizabeth Burns says the college has accumulated much debt. She said it has reached an agreement with Oakland University to accommodate students who are within a year of finishing their degrees and will make similar arrangements with other schools as needed.