I'm late to this discussion, but wanted to second the idea of dual-enrollment classes. They are tailor-made for kids who are ready for more academic rigor, but who are not yet ready to live away from home. Plus, they are good practice for the real world. :-)
Community colleges and universities publish course equivalency lists and transfer guides on their websites, explaining exactly which courses will transfer automatically and which won't. If your CC is large enough, it may also be in Transferology .
My eldest son entered university with almost 60 hours, and they all transferred in seamlessly. The extra credits gave him the breathing room to take two minors in addition to his major and an honors certificate.
My younger son is currently in classes at CC, and will enter engineering school with all but one of his freshman classes, plus a smattering of other requirements, finished (about 70ish credit hours including some credits that won't count for his degree). Since engineering school can often take 5 years to complete, having these classes out of the way will increase the chances of his finishing in 4 years, plus should reduce the time-pressure stress that most engineering students suffer from.
A few important things:
1) Be cautious in getting an AA degree, as you may lose eligibility for some freshman scholarships.
2) List every dual-enrollment class on the high-school transcript, and attach the CC transcript separately. This will allow the student to be admitted as a college freshman, and receive freshman scholarships on an equal footing with other incoming freshman. After being admitted, the official CC transcript will be used to populate their courses-completed list. Some colleges transfer the grades, and some don't.
3) Be cautious if taking college courses in the summer following high school graduation. For some colleges, taking any college coursework post-high-school-graduation will trigger their computer system to mark the student as a transfer instead of an incoming freshman.
4) Keep on eye on the class withdrawal dates. Since CC grades can transfer along with the credits, a poor grade earned as a 15-year-old might haunt a college student during their entire bachelor's degree (remember, GPA is important for annual scholarship renewal). I offered my kids the opportunity to drop CC classes without repercussions if they were not getting a high grade; this safety net encouraged them to try difficult classes, but was used only once. Often a professor will allow a student to finish out the class unofficially anyway, even if they drop, so the student will learn the material.
5) When evaluating high school transcripts, many universities consider one semester of community college work to be worth two semesters of high school work. For example, if the university requires four semesters of foreign language for its incoming freshmen, you may be able to meet these with two semesters of CC foreign language.
**edited to reflect change in scholarship eligibility