My son is now in China. What is the best for us to do regarding his visa issue?
(1) Go to the embassy immediately and return before August 15th. Then move onto private school.
-Don't understand what you mean. Your son does not need to pay the tuition until he enter US and enroll the school.
(2) >What if I get an official offer before August 15th? Would that mean he needs to cancel his visa and apply for a different visa?
-My suggestion is that if you get the job and get the H1 status, your son may apply for the H4 visa to enter US and then, apply for a University and change his H4 status to F1. If you do not get the job, your son may apply for the F2 visa to enter US and then, change his F2 to F1 later.