Seriously, hope his son doesn't want to do anything in the medical, bio, animal, plant, research, teaching, etc., etc. field. This post is so horribly short-sighted it is scary.
Author here. I studied Electrical Engineering for free at the University of Buenos Aires. Moved to the US in the 90s, got my masters degree, moved to Silicon Valley, did great. My parents both studied medicine in Argentina for free as well. My son will know that it's possible to get a world-class college education in other countries without spending a small fortune. Have you considered that? If not, I could say you're the short-sighted one.
So basically you are saying that you will tell your son to go back to Argentina if he wants to attend University?
You know, I don't think your advice is very good. I think instead I'll go the "college fund" route for my kids. It is laughable that you think college is almost obsolete because you can get it for free in Argentina. That makes no sense whatsoever.
And then they did at least three years of residency/fellowship in the US? Because a foreign MD won't get you a practice in the US. I also happen to know that residents get paid shit and work ridiculous hours, so a chunk of money from his parents to tide him over for that time would be a great boon to his lifestyle. Either way, it seems like saving up for a "whatever" fund is a good idea.
Or maybe he wants to become a software engineer but wants to work for a big established company that requires a college degree (like Google, Microsoft, Apple, Oracle, etc...).
