What does he think he wants to do? Business is pretty generic.
Finance, marketing, supply chain, operations, accounting… the sub sector makes a difference IMHO. Of these, finance is the only discipline where a higher ranked school MIGHT make sense (don’t jump on me, I said MIGHT).
HS kids often pick “business” as the least controversial “none of the above” choices (don’t like blood, not interested in law school, don’t like math so don’t want engineering, etc.) But what has sparked his interest in business, and if he decides he’s NOT going to major in business, then what?