Ready to Learn, Ready to Teach Act of 2001 - Amends the Elementary and Secondary Education Act of 1965 (ESEA) to revise title III (Technology for Education) part C as Ready-to-Learn Digital Television. Directs the Secretary of Education to award grants, contracts, or cooperative agreements to eligible public telecommunications entities to: (1) develop educational programming, and related support materials and services, for preschool and elementary school children; (2) develop programming and digital content designed for nationwide distribution over public television stations' digital broadcasting channels and the Internet, containing Ready-to-Learn-based children's programming and resources for parents and caregivers; and (3) disseminate and distribute such programs to the widest possible appropriate audience by the most appropriate distribution technologies.
Establishes the New Century Program for Distributed Teacher Professional Development. Authorizes the Secretary to make grants to a nonprofit telecommunications entity, or partnership of such entities, for a national telecommunications-based program designed to assist elementary school and secondary school teachers in preparing all students in core curriculum areas to achieve State content standards.
Establishes a Digital Education Content Collaborative. Authorizes the Secretary to award competitive matching grants to, or enter into contracts or cooperative agreements with, eligible local public television communications entities to develop, produce, and distribute educational and instructional video programming based on State standards and designed for use by kindergarten through grade 12 schools.