I have done studies that have examined this before. Sometimes I have focused on media preferences and volume of exposure. I also have been known specifically to examine media usage in students personal lives verses how they use media to gather information for school. What specifically do you plan to examine? If you just look at general media usage it will be very limited. How will social media play a role in your study? Do you plan to have a large matrix question that considers frequency of usage of a wide array of media? Also, will you be factoring into your study types of usage? Then how will you be measuring student performance? Will you be asking participants to self-report grades and then performing regressions or do you have another plan?
This is a fascinating topic and one that requires continuous exploration as available media and media preferences keep evolving. I have done some reasearch in this area but would love a multi- institutional study.