(PZ) Southwest Detroit Girls Benefit from Bank One Grant to Marygrove College

DETROIT-- Bank One has granted Marygrove College's Learning Clinic $15,000 to provide remedial reading, writing and mathematics assistance for girls ages 7 to 12 in Southwest Detroit.

Marygrove has partnered with the Mercy Education Project to provide classes to its diverse population of Hispanic, African-American and Caucasian clients. Sherry Lefton, assistant dean of Continuing Education, which administers Kids' College and the Learning Clinic, said, "Marygrove is thrilled to be able to bring our very successful classes to the needy girls in Southwest Detroit. The partnership with Mercy Education Project, sponsored by the Sisters of Mercy regional community of Detroit, is key to our being able to bring this type of remedial help into the community. We're also grateful to Bank One for their foresight. They envision young women who are strong, educated and able to compete."

Marygrove's Kids' College and the Learning Clinic have been in operation for more than 25 years, providing help in the main subjects of reading, writing and math as well as enrichment classes. Marygrove also operates a successful summer camp program with academic, sports, art and dance.

The Mercy Education Project was established in 1992 and provides remedial educational services to at-risk girls and women in Detroit.

Bank One is a significant supporter of community initiatives, including youth education, arts and culture, and community development programs that enhance the quality of life in the communities in which it operates. Bank One operates a network of 257 branches and 380 ATMs in Michigan. Its Michigan branches will change to the Chase brand name in 2006.

Marygrove College is a private liberal arts college located at 8425 W. McNichols Rd. in Detroit. More than 1,200 students attend classes in its undergraduate and graduate programs in education, business, human resource management, social justice, social work, science, theater, music, the fine arts and many others. Call 866-313-1927 or visit www.marygrove.edu. For Kids' College information, call 313-927-1230 or visit www.marygrove.edu/ce.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.