The film is still considered one of the most liked movies and MacGraw said she had fun shooting the movie.
"Making it was actually unbelievably fun the whole time," MacGraw, now 75, told the Hollywood Reporter.
"I was stupid and new enough in the business to think it was always like that," she said.
O'Neal, now 73 said, "It's the best time I ever had on a movie. And I've made thousands."
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The dialogue has been voted among the most famous movie lines list.
"It's a crock!" MacGraw quipped of the line, prompting O'Neal to say, "You'd better say you're sorry!"
The film saw O'Neal playing the role of a wealthy Harvard student who falls in love with MacGraw's character, a working-class student.
They marry against the wishes of his family but their happiness is short lived when they come to know that MacGraw's character has a terminal illness.