I don't remember studying literature until Jr. High school. I don't know when most schools start now, but I like doing literature studies with all ages!
Our main literature curriculum is part of The Family School (affiliate link). The curriculum is geared toward grades K-8. They also have high school literature studies available. We study books together as a family, and have a literature lesson every Tuesday. Sometimes the kids do their reading assignments on their own, but each week we read them aloud together for anyone who wants to participate, and to make sure the youngest hears the story too.
I love the topics and discussions presented in The Family School. My children have a much deeper understanding of literature. There are 89 flash cards that we use every year, they teach concepts like characterization, literary techniques, poetry, and so much more. We study these topics and the lessons learned in the book. Sometimes we make lapbooks that go along with our study.
The Family School can be used one section at a time, so you can use just the literature portion. They recently announced that they will continue adding individual units rather than a set number of them, because of topics like literature.. there are so many they could create and how nice will it be to choose which book to study out of dozens of choices?
We have also used Memoria Press Literature Guides. I really like these but found them more of a comprehension guide. They do have literary elements included, but they're just not as in depth as The Family School curriculum. The Memoria Press Guides are a great option though, and I do enjoy using them!
We chose to use the Memoria Press Guides when my daughter finished All About Reading Level 4. I felt we shouldn't just quit learning about reading, so teaching her comprehension and using a study guide was a great next step. I've also used these guides over the summer.
Studying good literature can provide a good source of learning about life and values, and it is better than just reading current popular books. Those types of books are not a bad thing, but I do like to encourage my children to read with character building in mind.