I believe having a good workspace is essential for studying. Your office or workspace is where productivity happens. Creating a functional and healthy space will result into beneficial studying and work. You want to make it personal and creative to make it enjoyable to do work. I think there is some truth to the psychology of color. I would suggest going with something light, neutral or subtle. For instance, a light green, beige or sky blue etc. Dark and vibrant colors can cause intensity, for example, a red colored room will give off adrenaline vibes. While a sky blue color will give off calm vibes. I guess you can say I am kind of big on vibes.
My current room color is a nice light mint green. When I walk into my bedroom it allows me to unwind and be comfortable. In my bedroom, I added a white desk with a white chair. It really compliments the room. I wanted a desk and chair that would allow me to be in harmony and balanced. It is also the color of new beginnings