Google Classroom is a new product in their Apps for Education initiative which is about 'more teaching, less tech-ing.' Launched alongside a suite of educational tools, this product lets teachers collect assignments online. Google Classroom combines Google Docs, Drive and Gmail to "help teachers create and organize assignments quickly, provide feedback efficiently and communicate with their classes with ease."
Students can turn in paperless assignments for grading once they are added to the appropriate class. They can organize all their work in one place as well, doing away with overstuffed binders. Also, teachers have the option of making announcements online.
While this tool is being targeted within a traditional classroom setting, it could also be enormously useful for online classes in university and college.