Ideas

I have not seen them, but there are reported black markets where college essays are sold. Your idea will stir that pot in a bad way.

This would be very easy to build, but how do you attract the qualified readers to critique essays? I know from painful experience that the vast majority of college students can't compose a grammatical sentence, so most are not qualified to provide feedback to their peers. How will you qualify and provide incentives to people who do have the proper skills?

there are some paid website sesrvices that do this. check out http://www.vault.com

It's not just about attracting the qualified readers to critique essays as Micco says but why would anybody do this.
Every user on the internet ask him/herself: what's in it for me?
Why should I review others work?
Cheers
Tommy

I guess the same reason why someone would comment on an idea here.

Been done by others. I have seen websites that have professionals that do this for free.

chrischen: "I guess the same reason why someone would comment on an idea here."

As much as I like this site, I spend a lot less time here everyday than it would take me to do a good edit on a several-page essay. Plus, it's a lot harder to qualify the expertise of people in an editing job than with comments here. If someone sprays B.S. in a thread here, it's probably pretty obvious to the poster and, if not, someone else with point it out. If I do a poor job editing your essay, how will you know? Do you intend to have a wiki-type interface or some other collaborative document system for displaying the edits so one editor can approve/reject changes suggested by another editor?

Too easy for another struggling college student to come in and rip-off, and quite undetectably, another's work. That's just asking for trouble.

chrischen: I comment ideas because it's not very difficult and it lets me to open my mind and discover new different ideas, and also lets me to meet interesting people with the same interests. But I don't know if I would read 21 business plans if we would have to publish them here.

noelius, he's not just asking you to read 21 business plans but to edit them for content, structure, grammar and spelling. I'd submit that most posters here aren't even qualified, much less willing to spend the time.

The only reason anyone would ever do this is if they were paid.

whats your revenue model?

I always found it interesting that the work world is all about working together, but schools punish it.

Ads I guess, but I'd be willing to take an initial loss to gain a user base.

Maybe editors can read parts they want and give feedback? Not everyone has to do in-depth editing. Or give at the least holistic evaluations.