Don't kid yourself. No respectable college kid irons clothes. And who can blame them? It's a giant, thankless pain of a chore that gets ruined the minute you become the slightest bit rumpled. I'm a mother of two, and I still take whatever steps I can to avoid ironing at all costs (gotta love that touch-up option on the clothes dryer).
Instead of supplying your kid with a bulky ironing board and an appliance he'll probably never even take out of the box, buy him a bunch of hangers and teach him how to properly fold clothes. Realistically speaking, if he goes to school anywhere near home, he'll probably lug his dirty laundry back for you to do anyway. So, you can relish the opportunity to iron to your heart's content when that happens.
If you insist on wrinkle-free clothing, I will admit that irons can serve a purpose other than the one they're made for. After all, who needs a panini press when you have an iron? My best friend in college regularly used hers for making grilled cheese sandwiches when she couldn't hit the dining hall. I ate more than one, and I am not ashamed.