Is attending a community college a waste of time for an exceptional acadmic student?

Is it a bad idea to have an exceptional student enroll in a community college until he figures out what he wants to do. As may be ascertained money is a constraint and due to the huge influx of new students this fall he has been denied and told to go to a cc until Spring-? Of course it is ultimately his decision, but as a parent I try to provide the best direction.