Families Conquering Literacy Together Act of 2007 - Amends the Elementary and Secondary Education Act of 1965 to change funding formulas under the Even Start Family Literacy program to reserve potentially larger amounts, depending on overall appropriations, for migrant, outlying area, Indian, and research programs.
Eliminates the Even Start competitive grant program awarding reserved funds to states for statewide coordination of federal, state, and local literacy resources.
Increases the minimum Even Start grant to states and state subgrant to Even Start entities, as well as the floor on the federal share of program costs.
Allows states to use federal funds to provide subgrantees with technical assistance for professional development and collaborative activities.
Requires all Even Start instructors to have at least an associate's degree related to early childhood education, elementary or secondary education, or adult education.
Requires state, migrant, and tribal grantees to report annually to the Secretary of Education on their progress in achieving program quality.
Revises required indicators of program quality to stress the quality of services provided and training received by program providers, rather than participant achievements.
Requires the creation of an independent research panel to set the agenda for research into successful family literacy services.
Directs the Secretary, after receiving design recommendations from an expert panel, to arrange for an independent longitudinal evaluation of the impact of Even Start programs that compares participants against nonparticipant control groups and addresses variations in the impact of such programs.