Is there a way I can create a custom cover page for Academic Papers in Word
2007?
Yes, you can do that.
The simplest way is to insert an existing cover page that's most similar to what
you want, or one that's simple such as the Sideline page, and modify it to your
needs.
When you're satisfied, put the cursor at the beginning of the page after the
cover page and press Ctrl+Shift+Home to select the entire cover page.
Now click Insert > Cover Page > Save Selection to Cover Page Gallery. Give it a
name and click OK.