Apple hasn't announced it, but the price for the student plan on Apple Music has increased slightly. In Canada and the US, it's a jump from $4.99 to $5.99 per month. The UK is expecting a similar jump in British pounds. It has been spotted on the Apple Music webpage, though. The price change seemed to have rolled out between June 21 and 23. The pricing for its monthly individual and family plans remains unchanged. If you want to retain that $4.99, it might be worth looking into the voice plan. But that has more limited access to Apple Music since you can only control the app through Siri.
Back in May, Apple quietly increased the pricing of the student plan in several countries (Australia, New Zealand, the Philippines, Singapore, Malaysia, Saudi Arabia, Indonesia, Israel, and Kenya), so it might have just been another scheduled rollout for this price change.