this is definitely a creative idea! Making the time pass faster when playing pc "simulates" very well my real life XD. The "study" mechanic feels a bit too slow, i would have liked to see what happens when you complete to study.
If you click on the "Study" bar down below, it charges by 1% and 1 minute passes, so you can study without actually leaving the game open 8 hours. Also, I think (didn't have time to test completely) that if you click on the study bar most of the time, you get an OK grade!