I disagree with Robert that "You are meant to be studying English now" 'doesn't make any sense'. For me, this makes perfect sense : it means that you SHOULD be studying now, according to some kind of pre-arranged agreement or schedule.
In this situation, you can say either 'I'm supposed to be studying now' or 'I'm meant to be studying now' and the meaning would be the same.
By the way, the simple explanation "X is British English; Y is American English" is almost always wrong. In many cases, the supposed difference is merely a preference. In other cases, it's a simplification of a slightly more complex situation - it often means that only X is used by AmE speakers while both X and Y are used by English speakers outside N. America.
This is the case here: the fact that this use of 'meant to be' is not recognised by some AmE speakers does not necessarily mean that this usage should be labelled 'British', and it certainly does not mean that there's anything exclusively 'American' about 'supposed to be'.