Now that I'm out of school (and have been for a while), I use notebooks for things like coupons and I need little pockets and hiding spots in my notebooks. It was similar when I was in school. Teachers gave me notes and papers to take home to my parents and I would just stuff them in my backpack.
This craft helps to eliminate the clutter. Dream a Little Bigger has a wonderful tutorial on how to create Duct Tape Pockets for your notebooks so you can actually monitor the papers that your kid brings home from school! Click here for the tutorial.