I guess the real question is; do you want to give your kid a full blown martial education or is it going to be on the side of a full blown scholastic education. You can really only specialize in one. which ever you choose you can get good at the other, but will never be a true expert unless you specialize. Ask yourself this question, if the answer is that you want your kid to be homeschooled on what he needs to survive but specialize in MA, then I would go find a master that you are willing to let shape your childs future for martial success. If not start a high interest bearing certificate of deposit for college purposes, and train the kid when ever you feel he is ready. At this point its all day dreaming, planning the future, setting goals, laying seeds and watching the fruits of your labor.
Have fun with your little bundle of joy, what ever choice you make will be the right one.