Whoever is eligible to claims the student (your son) as a dependent is the person that is entitled to claim the 1098-T and the education credits. So, if your son doesn't qualify as your dependent and he elects to file his own tax return and "claim" himself then he would claim the 1098-T and the education credits. However, if you son states on his tax return that someone will claim him on his tax return then he would not be allowed to claim the 1098-T and educations credits.
(see the attached screenshot)
