I am in a similar situation. It is not a paper for a class, but a book I have been writing. It currently has 70,000 words. That should estimate out to 280 pages, if you assume 250 words per page.
The paper wasn't even mine - I work on others' academic writing for monetary gain. I wanted to almost completely rewrite this one, it was so lacking in original thought and primary references... but that is not my job. 'Tis my role to polish the occasional turd. ^_^