I have a student from India that I am sponsoring 100%, living with me. He is working part-time on campus and is paying US taxes.

What is your question?

If you are asking if you can claim the student as dependent, the answer is no if he is a non-resident alien. F1 visa holder are non-resident aliens for the first 5 years.
If he is in the US longer and a resident alien, you can claim a non-relative only if they lived with you the entire year, did not earn more than $3700, you provided more than half his/her support, they cannot be claimed by anyone else and do not file married filing jointly..