In December 2019, Mr. Joe Jacobs cashed qualified Series EE U.S. Savings Bonds, which he had purchased in January 2012.

The proceeds were used for his son's college education. All of the following statements are correct concerning the exclusion of the interest received except:

a. He cannot file as married filing separate.

b. Eligible expenses include room and board.

c. If the proceeds are more than the expenses, he will be able to exclude only part of the interest.

d. Before he figures his interest exclusion, he must reduce his qualified higher education expenses by certain benefits.