Should I let my 15yr son give up parental rights to his child?

My son who is 15yrs old wants to give up parenatal rights to his child when the child is born. He is no longer with the girlfriend and says the grandparents will be raising the child. My son will be 16 when the child is born.
I think we should set up a visitation schedule and child support and be an active role in this childs life. My son say's if I don't let him give up rights now he will relinqish rights as soon as he turns 18. What should I do? My son is very smart and has a very bright future which he pretty much already has planned out. But what am I teaching him if I let him just walk away from his child? I know whatever decision I make is or let him make is going to come back to haunt me...