In this subtitle the following words have the meanings indicated. “Eligible individual” means an individual who is: Enrolled in the first or second year at an institution of initial eligibility; and Interested in pursuing a career in the teaching profession. “Fund” means the Teacher Development and Retention Fund established under this subtitle. “Institution of initial eligibility” means: An institution of higher education in the State where at least 40% of the attendees receive federal Pell Grants; or A community college established under Title 16 of this article. “Program” means the Teacher Development and Retention Program established under this subtitle.