There was a university in New England where the students operated a "bank" of term papers and other homework assignments. There were papers to suit all needs. Since it would look odd if an undistinguished student suddenly handed in a brilliant essay, there were papers for an A grade, B grade, and C grade.

One student, who had spent the weekend on more "extra-curricular pursuits," went to the bank, and as his course was a standard one he took out a paper for a inconspicuous C. He then retyped it and handed the work in.

In due course he received it back with the professor's comments.

"I wrote this paper myself twenty years ago. I always thought it was worth an A, and now I am glad to give it one!"