Rather than giving all that money away needlessly, spend a fraction of it on room and board and spend the majority of your time teaching yourself. You'll be done way ahead of 4 yrs.

And then jump into the startup world.

Conversely, due to family commitments and other aspects of real life, starting your own business is something that gets monotonically harder every minute until you retire.

Do it now, or it probably won't happen. Believe me, college is what will wait.

(Edit: Maybe I was too hasty in saying 'bad advice.' It's good advice if he actually takes it. If he doesn't have the kind of personal drive needed to ignore people who tell him to take the safe path through life and stay in school, then he may not be happy as an entrepreneur.)