U.S. Department of Education launches new college planning tool for families.

U.S. Secretary of Education Margaret Spellings today unveiled a new online tool to help students and families financially prepare and plan for college before a student's senior year of high school. Called the FAFSA4caster, it provides students with an early estimate of their eligibility for federal financial aid, which could include a Pell grant of up to $4,310. "Improving college access and affordability are key to giving more Americans a chance at higher education and keeping America competitive," said Secretary Spellings. "Families need more information—sooner—about students' federal aid eligibility so that they can plan ahead for college. The FAFSA4caster gives families an important tool they can use to make decisions about the future." To learn more about this new program click here.