Farah from Craft a World shows how to make a cute wallet with pockets sized just right to hold pencils and a small notebook. This would make a great present for a student! It’s made in much the same way as a pencil roll, but it folds up with a tri-fold rather than getting rolled up. Her version doesn’t have a closure, but you could add a button and elastic if you wanted. Get the tutorial.
[photo from Craft a World]