Probably not.

The Washington Post reports:

Expanding tax credits has done little to help college students

Despite the billions of dollars the government spends on education tax credits, new research shows nearly 40 percent of undergraduate college students are ineligible to receive them, raising questions about whether the benefit is a good way to help families pay for school.

Tax credits are lauded by some politicians as an efficient way to address the high cost of college. As a result, the federal government in 2014 spent $23 billion on three programs offering tax credits for college tuition, books and supplies. But researchers at the New America Foundation found that restrictions in the programs and the way credits are calculated limit the reach.

Living expenses do not qualify for tax credits, even though housing and meal plans at many colleges and universities now cost more than tuition. Nearly two-thirds of the families that researchers say are ineligible for tax credits had tuition and fees covered by grants and scholarships. Many students in this case attended community colleges, where tuition and fees are low enough to be covered by Pell Grants for needy students, according to the report.