Yes, if you are eligible to claim your son, and do so, then you should deduct all of his Qualified Education Expenses and claim all of his financial aid, if any, for 2016.
See Rules For Claiming Dependents
To enter educational expenses (and financial aid):
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Education
- On Expenses and Scholarships (Form 1098-T), click the start or update button
