Financial Literacy for Students Act of 2011 - Amends the Elementary and Secondary Education Act of 1965 to authorize the Secretary of Education to award grants to states to: (1) integrate financial literacy and entrepreneurship education into their public middle and secondary schools, and (2) provide training to financial literacy or entrepreneurship teachers in such schools.
Authorizes the Secretary to award grants to local educational agencies (LEAs) for the provision of financial literacy and entrepreneurship training and assistance to parents and students. Directs the Secretary to encourage LEA grantees to: (1) partner with community organizations, financial institutions, or local businesses or entrepreneurs when implementing such program; and (2) find connections and foster mentorships between classroom-based programs and the local business and entrepreneurship community, where appropriate.
Requires the Director of the Bureau of Consumer Financial Protection to coordinate the activities funded under this Act with the activities carried out by any financial education research center operated by a Federal Reserve bank.