Webb Institute Receives $25,000 Grant From The Teagle Foundation
Webb Institute of Naval Architecture, the oldest four-year naval architecture undergraduate institution in the U.S., recently announced receiving a $25,000 grant from The Teagle Foundation, Inc. Institute officials said that the grant will be used for its general scholarship program solely for the education and future development of naval architects and marine engineers.
The Teagle Foundation was founded in 1944 by Walter C. Teagle, the former chairman of Standard Oil Company of New Jersey, known today as Exxon Corporation. The primary concern of the foundation centers on scholarship assistance to employees of Exxon Corporation and to children of present, retired, and deceased employees to obtain undergraduate or graduate level education. In addition to the above, the foundation also supports a number of colleges with direct grants for the college's scholarship aid program. Selection of the individual and the stipend are determined by the college.