; and (B) ensure that any student compensated with the funds described in paragraph (1) for a residency program receives appropriate training to acquire teaching skills (as such term is defined in section 200) or school leader skills (as defined in this section). (3) Federal share The Federal share of the compensation of work-study students compensated under this subsection may exceed 75 percent. (4) Definitions In this section: (A) Residency program The term residency program means a school-based educator preparation program in which a prospective teacher, principal, or other school leader— (i) for 1 academic year, works alongside a mentor teacher, principal, or other school leader who is— (I) the teacher of record; or (II) rated as effective or above in the State’s school leader evaluation and support system (as described in section 2101(c)(4)(B)(ii) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6611(c)(4)(B)(ii) )) or, if no such ratings are available, on other comparable indicators of performance; (ii) receives concurrent instruction during the year described in clause (i) from the institution, which may be courses taught by local educational agency personnel or residency program faculty, in, as applicable— (I) the teaching of the content area in which the teacher will become certified or licensed; (II) teaching skills; and (III) leadership, management, organizational, and school leader skills necessary to serve as a principal or other school leader; (iii) acquires effective teaching or school leader skills; and (iv) prior to completion of the program, attains full State teacher, principal, or school leader certification or licensure, and becomes profession-ready. (B) Profession-ready The term profession-ready — (i) when used with respect to a teacher, means a teacher who— (I) has completed a teacher preparation program and is fully certified and licensed to teach by the State in which the teacher is employed; (II) has a baccalaureate degree or higher