I was wondering if there is any way to make that daily time spent studying timer to reset at a different time? It seems like it resets at 12:00 noon here. It would make much more sense if it was 00:00 midnight instead. This way it would be easier to keep track of how much time you actually have studied during one day, and not one half day.

Make sure the time you've set in account->general settings is the right one.

It resets at 4 AM - if you want it to reset at a certain time, you can set your time zone accordingly. It's probably best to just set it to your actual time zone, because there may be times when you stay up past midnight studying, but it's unlikely that you'll get up before 4 AM and study.