Your parents should have records available to support the amount claimed for any education credit on their return, in the event of an IRS audit.
See this IRS presentation with examples illustrating the interaction of scholarships and tax credits. Families may be able to increase their total refund or reduce tax liability by paying some tax on their scholarships and increasing their tax credit. Students may choose whether to treat their scholarships as used for tuition and related fees (tax-free, but reduces expenses for credits) or as used for living expenses (taxable, but does not reduce expenses for credits).
See also IRS Publication 970 for more information.
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