My son's goal is to be a pilot -- ideally, regional and eventually with a larger commercial airline. I am a college professor and welcome his desire to pursue his dreams.
I don't know how old your son is, but if it were my son, and he truly was serious about becoming a professional pilot, I would really have a "heart to heart" talk with him. I would explain to him that he is going to be carrying alot of debt when he graduates from college and completes his training. Far more debt than other professionals (I'm assuming you aren't going to be able to help him with his education as you didn't mention it. Correct me if I'm wrong). I would explain to him that while carrying that high debt load that he is going to have to expect very low salaries for the first few to several years of his career. Everyone is poor when they finish their professional training and college, whether you're an accountant or a IT guy or whatever. The difference is that other professionals can expect entry level salaries in the 30's and 40's and if they do well, can expect raises and career progression. Pilots can expect entry level salaries in the 20's and perhaps won't make more than 30K/year for the first several years of their career- all while trying to service 10's of thousands of dollars of debt. There is a huge oversupply of pilots in the market right now, there has been for at least the couple of decades I've been in aviation, and unfortunately low salaries reflect that oversupply.
If he still wants to do it, I would suggest that while in High School, he at least try to solo at a local airport. Almost all of us on this board were flight instructors at one point in our career. Many of us, unfortunately, have seen young people change their mind after actually having flown an airplane and seeing/feeling what it is really like. Some people love airplanes but simply aren't cut out for flying. He's better off making sure that he likes flying while he's young and hasn't made any major decisions about his college education path.
I would have him talk to a few airline pilots who have been through the very bumpy ride the profession requires. Don't let him talk to some angry, jaded airline pilot as there are many of them out there. Find a guy who loves aviation but has been around the block and will give an honest assessment of what your son might expect if he chooses this path. Profession pilots have extremely difficult career paths to a decent paying job. He needs to understand that.
You mentioned that you are a college professor. If I'm not mistaken, most college employees receive a discount if their children attend the college their parents are working at. If he can get a big discount for going to college where you are, I'd say get a degree in ANYTHING your college has to offer. Nobody cares about what a pilot's degree is in. They just want someone with a 4 year degree. I would sugggest NOT sending your child to an expensive private university like ERAU. It's a great program (I went there) but unless he gets some seroius scholarship money, you'll have way too much debt for what you get. As mentioned above, if possible, get a degree in something that he can fall back upon when he inevitably ends up furloughed and unable to find a pilot job. I wish I had done that.
After he gets the degree, I'd start looking at a good Part 141 program with possible connections to an entry level regional airline job. If it were me, nowadays I think I'd lean toward All ATP's (see banner ad on top of this page) or similar. The big schools usually have some sort of financial aid available, too, although I'm not sure what kind of interest rates are available. Or, he could use his "backup degree" we mentioned earlier, work his day job, and then obtain his ratings on nights and weekends. The disadvantage to that is that it will take much longer to obtain his flight ratings than if he just went to a structured Part 141 program to get them done in a timely manner. The other disadvantage is that sometimes guys get "comfortable" with that higher salary of their day job while flying on the side and have a difficult time giving up that day job for a flight instructor's low pay once that day comes.
Has he considered the military? I'd consider that route. There are many military pilots on this forum who could tell you about that career path if you ask.
It's good that you're asking this stuff on behalf of your son. If you or your son have any other questions, feel free to post or private message. You're getting good advice from the guys posting above me in my opinion. Good luck.