Fix America's Schools Today (FAST) Act of 2011

Fix America's Schools Today (FAST) Act of 2011 - Directs the Secretary of Education to allocate grants to states and, through them, subgrants to local educational agencies (LEAs) to modernize, renovate, or repair early learning or elementary or secondary education facilities.

Requires the Secretary to allocate grants directly to the 100 LEAs with the largest numbers of children aged 5-17 living in poverty to modernize, renovate, or repair such facilities. Requires allocation of such funds among these LEAs in proportion to each LEA's respective share of school improvement funds under part A of title I of the Elementary and Secondary Education Act of 1965.

Requires states to give subgrant priority to projects that comply with certain green building standards.

Prohibits the use of such grants for new construction or routine maintenance costs.

Reserves funds for a survey, by the National Center for Education Statistics, of nationwide public school construction, modernization, renovation, and repair needs.

Directs the Secretary to allocate grants to states to modernize, renovate, or repair existing facilities at community colleges.

Prohibits the use of such grants: (1) for routine maintenance costs, (2) on facilities used for events for which the public is charged admission, or (3) on facilities which are used for sectarian purposes.

Requires states, in providing assistance to community college projects, to consider the extent to which the project complies with certain green building standards.

Limits the amount of time states and LEAs have to obligate this Act's grants and subgrants.

Requires, with certain exceptions, the iron, steel, and manufactured goods used in projects funded by this Act to be domestic.

Applies the prevailing wage rate requirements of the Davis-Bacon Act to projects assisted pursuant to this Act.