My son worked as a RA at college & was paid in room & board. The college gave him a W-2 for this, does he have to claim it as income?

My son worked as a RA at college & was paid in room & board.  The college gave him a W-2 for this, does he have to claim it as income?  As an example - Say his wages for a month were $800.00, all he got in real money was $100.00, the rest, $700.00, went for his room & board at the college.  His W-2 from the college would have $800.00.