Wayne,
A trade school like the art institutes schools will teach your son the technical end of production, which you say is already part of his education. Think of those schools as a how-to instructional classes, a useful tool nonetheless. They are not structured like, say a large state school where film students can network with music, media and art students toward larger scale original productions. Add to that a critical discourse at the foundation of most art and film departments and you have a petri dish for creative growth.
So it depends on the kid… If he’s got creative potential — send him to somewhere that will challenge him.
Like others have mentioned, in the end it’s how the reel looks. Someone can go through the hoops of school and not be too keen on that whole focus thingy… But, with “3 years experience” on every job posting, a couple years interning in college can be a big help.
I have a friend who graduated from Pratt Institute in Film/Video. As a Cinematographer, he was picked up by Sufjan Stevens for a project involving an orchestra and red carpet at BAMM. Conversely, my roommate started his undergrad at University of Southern California in Film but droped out because he’d rather be in the industry on the set.
My suggestion is state school for undergrad. It worked for most of us, or at least pointed the right direction without wasting too much money in indecision.