Yes. The exemption deduction has been replaced by a $500 non-child dependent tax credit. There is also an education credit or deduction when your dependent is a student. You may NOT claim the education credit, even if you pay the tuition, if she is not claimed as a dependent on your return. As others have mentioned, a student child, under age 24, may make you eligible for the Earned Income credit.
Just as important are the dependent rules. She is not allowed to file as "independent" ("claim herself") if she qualifies, under the rules, as your dependent.
See dependent rules at
https://turbotax.intuit.com/tax-tools/tax-tips/Family/Rules-for-Claiming-a-Dependent-on-Your-Tax-Ret...
Your should also be aware of changes to the "Kiddie tax". A student under 24, who does not support herself by working, is subject to capital gains being taxed at trust tax rates (beginning in 2018) regardless of dependent status.
See https://www.marketwatch.com/story/the-kiddie-tax-is-getting-easier-and-maybe-cheaper-under-the-new-t...
https://www.kiplinger.com/article/taxes/T054-C005-S001-capital-gains-and-the-kiddie-tax-under-the-ne...
