Yes, you may claim the excess expenses by filling out Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits). To claim the credit, qualified expenses are reduced by the amount of any tax-free educational assistance.

Don't reduce the qualified expenses by amounts paid with the student's earnings, loans, gifts, inheritances, or personal savings.

Also, don't reduce the amount of qualified expenses by the amount of any scholarship that, by its terms, can’t be applied to qualified tuition and related expenses or any other scholarship otherwise reported as income on the student’s return.