Since I'm not a parent I got nothin' to add to what's been said, other than that I'm with @
csmith12.... a track experience will have a HUGE impact on his development as a rider (and a young man), and not just in terms of skill. He'll be exposed to friendly people who ride well, not just ride fast.
The thing that kills so many young men is that they're, well, young men, with all that implies. A sense of indestructibility. A desire for thrills. An urge to be a badass, prove oneself and impress people. A tendency to do stupid sh*t that will make for a good story someday if they survive, prefaced by "I'm amazed I'm still alive."
Going to a riding school means he'll have direct contact with people who are older, wiser, more responsible and who really DO know how to ride.
Oh, and one more thing. Your kid is one of the luckiest guys on the planet, to have a dad like you. Most kids have to battle the "NO WAY you're getting a motorcycle!" thing.