No, you are not required to report your 1098-T if your qualified educational expenses exceed your financial aid including a scholarships/grants.
However, you should consider reporting both of the above as you may qualify for the American Opportunity Credit, the Lifetime Learning Credit , or the Tuition and Fees Deduction.
See Qualified Educational
Expenses
To enter educational expenses:
Type in 1098-t
in the search box, top right of your screen, then click the
magnifying glass
Click the jump
to 1098-t link in the search results
Follow to prompts and online instructions