Quality After-School Expansion Act of 2001

Makes small cities and disadvantaged suburban communities (as well as inner cities and rural communities) eligible if they have a substantial need for expanded learning opportunities because they: (1) lack resources to establish or expand such centers; or (2) have other related needs.

Provides for allocation of grant funds to State educational agencies (SEAs) (current law provides for direct grants to public elementary or secondary schools or consortia). Reserves funds for continuation grants to existing grantees, specified territories, programs for Indian children, and evaluation and national activities. Requires SEAs to award competitive grants to eligible local entities acting on behalf of public elementary or secondary schools. Allows a portion of funds to be used for State-level activities and evaluation.

Requires SEAs to establish performance indicators and acceptable goals of progress to evaluate the effectiveness of programs under this Act.

Requires each local grantee to use: (1) at least a portion of its grant to implement or expand before- and after-school learning opportunities; and (2) the remainder to carry out not less than three among a list of specified activities. (Current law requires centers to include at least four of specified activities.)