I prefer to study in my room, where there is no noise and nothing to distract me from whatever task is at hand. Along with a lack of noise, I also think it is important to be sitting at a desk while studying as opposed to laying in bed. Laying in bed is too informal and before I know it I’ll end up half asleep using my Chemistry book as a pillow. Some people may find that studying in groups is conducive to acing your finals, but for me it is just another unneeded distraction. On rare occasions I might study with a friend if I need help with something, but overall I find being alone allows more learning and memorization to take place.
Lastly, I think the most important (and most forgotten) aspect of studying is being comfortable. Throw on some fuzzy socks and make yourself a smoothie to sit down with, studying is only as painful as you make it.