I am sure this would work wonderfully for teachers but I have used it within my home to organize mail, paper, and bills.  Most of the pockets are pretty deep.  The top pocket is not so it is a good place to store receipts for filing.  For most of the pockets, I use folders in order to easily remove all the papers associated with the pocket in one easy movement.  I pin the unit on the back of a door so it doesn't take up primary wall space.  I really like it and would recommend it to those who have a lot of paper that they need to process.