On July 16, the U.S. Department of State announced that certain travelers, including students, may qualify for National Interest Exceptions under the U.S. entry bans imposed on travelers from the Schengen Area, United Kingdom, and Ireland. Students "who are applying for or have valid visas...may travel to the United States" even as the proclamations upholding those bans remain in effect.
Furthermore:
Students traveling from the Schengen Area, the UK, and Ireland with valid F-1 and M-1 visas, do not need to seek a national interest exception to travel. Students from those areas who are traveling on a J-1 may contact the nearest embassy or consulate to initiate an exception request.
This exception does not include students coming from China, Iran and Brazil.