Research shows that students who participate in study groups earn better grades. Working effectively in groups is an important skill to master. Whether taking a class that requires group work or working in a student, civic, or other type of organization, working collaboratively is a skill that you will use throughout your life.
It is called a colloquium in an academic context. This type of study group may be predetermined by the teacher or by students themselves. It may be wise to agree on a set of rules beforehand.