The best way is to organize the papers by lesson. For example Lesson 1 Lecture Notes, Lesson 1 Homework Notes, then Lesson 1 Corrections, etc. On the rare occasion the student needs to go back and view the notes, it is usually within a few days. Also, they may want to look at their homework notes and/or corrections at the same time. Keep in mind, there are links to the lesson text and example problems above every question.
A spiral notebook is okay but since you can't add pages to it, you will need to store the Exam notes and exam corrections pages in a different folder.