Yooper,
Thank you for your son's service and thank you for raising a son who is willing to serve in a time of war. It says a lot about you as a father to be on here looking for answers about your son's situation!
First, I will say, in less there is something I'm missing or am not aware of, your son can not be "chaptered" out for a medical condition that was a direct result of his service! An MEB would the only appropriate avenue of discharge in your son's situation.
If he is somehow chaptered out which i think is highly unlikely, he would not be eligible for the GI Bill (funds for college). However, if he is separated via the MEB/PEB, then he would be eligible for such benefits. Make sure your son goes to legal about his issues and situation.
If you don't mind me asking, I have a few questions: 1. Which branch of service is your son in? 2. What installation is he currently at? 3. What was going to be he's MOS once finishing AIT?