jQuery plugin for character limits in text areas

jquery-characterLimit.0.1.0.js

(function ($) {
    $.fn.characterLimit = function (options) {

        var settings = $.extend({
            'maxCharacters': 100
        }, options);

        return this.each(function () {

            var $this = $(this);

            $this.keypress(function (e) {
                var char = String.fromCharCode(e.which);
                var curVal = $(this).val();
                var forecastVal = curVal + char;
                
                //when the character limit is about to be exceeded preventDefault
                //halts the new character being assigned to the text area
                if (forecastVal.length >= settings.maxCharacters) {
                    e.preventDefault();
                }
            });

        });

    };
})(jQuery);