Question regarding a dependent

My Son is my dependent. He is a full time student in an university but did not have enough money to support for his college expenses himself. So I supported more than 50% of his expenses. Since he received W2, I was planning the below.

 

1) He will file the tax on his own

2) I will claim him as my dependent

3) He will declare that someone claimed him as a dependent. 

 

Is this the right approach?

 

Thanks

Ravi