It seems like ages ago, but Facebook started off as a service available only to college students and having a .edu email was the only way to get an account. Today, the site is open to all and sundry to use in order to maintain their social circles and cliques.
The widespread use of Facebook for organizing and planning everything from charity drives, birthday parties to study groups has led to the roll out of a new feature. Users will now be able to create groups which have file sharing capabilities. The size of files that can be shared will be capped at 25MB and transfer of .exe files will not be allowed, to prevent the spread of malware. It is also expected that the service will be monitored to prevent abuse of copyright infringement.
Titled "Groups for Schools", the feature is only available to US Colleges and Universities at present. Turning back the clock in a manner of speaking, you will need the relevant .edu emails once again to get the ability to swap files with your peers.
Once the feature has been tested, it will probably be made available to larger segments of the Facebook community. The 25MB limit prohibits sharing of content such as movies, which generally measure in at around 700MB nowadays, but seems perfect for the exchange of documents such as class notes, assignments, PDFs and other similar material.