Odesk.com and Elance.com could use your skill and knowledge. They will pay you €50 per hour. Not a bad rate, especially if you can write for long periods of time. Imagine how much you might earn in a full day, while still having time to pursue other, less profitable but more respectable projects.
Think of all the university students out there in the English-speaking world who have papers due but don't want to invest the time to research and write those papers. You could write them. You could get paid to write something that you might have scribbled in your own university days, in fact, and get something out of all those words besides a degree.
By signing on with sites that put freelancers and needy students together, you will be handed assignments without having to chase down an editor to beg for a little work. Instead, the work would come to you.
If you are considering such an option, you should be warned that this particular opportunity is not going to be available for much longer.
Teachers who assign written papers are realizing that their students are paying places like Odesk to provide them with the required piece, which is quite contrary to the purpose of assigning the project. Students are in school to learn, not spend their study hours doing things that they see as "fun". A purchased paper means the student did nothing to advance learning in whatever topic, whether it be science or current events.
In addition, a student submitting that sort of thing under their own name could technically be accused of plagiarism. Using a ghost writer is frowned upon in academia.
University administrators are also not happy about the service because members of their community are accepting the fees to write assignments to supplement meager incomes, and what good does it do to pay an instructor to teach if that instructor goes ahead and writes the papers for a few hundred euro each? Every student gets high marks on the brilliance, and there's your grade inflation. The student, then, learns nothing, the instructor makes enough to pay rent for a few extra months, and the graduates arrive in the work world unprepared to do the work.
Strike while the iron is hot, the blacksmiths say. If you can find a way around the plagiarism software that many universities are now using to detect pay-to-write work, your fortune is made if you act quickly.
Just remember to not sell the same paper to students in the same class at the same university, and be sure to jumble those sentences around. The software looks for 20% repetition.
But it's work, isn't it, and it pays. That's what freelancing is all about.
Let the universities deal with the issue in their own way. You have to earn a living, and you can't be too particular. That's also what freelancing is all about.