This is a serious problem. I thik that we should move all siddur and chumash parties, as well as nursery and kindergarten graduations, to 8:30 PM. That way all of our 4 and 5 year olds will learn the virtues of late night study.
We should train them at a very young age to not go to sleep on time. That way, by the time they get to yeshiva gedola, they will be ready to stay up learning till the wee hours of the morning, and then sleep through shacharis and half of morning seder. Perhaps we should provide them with cigarettes and beer. That will make them truly prepared for the full late Thursday night experience.