Re: bolt rifle for a youth
The Model 700 Youth is an excellent choice. As are some of the smaller Ruger 77's. And the Model 7 is fantastic rifle. Any of these guns will last him a lifetime... not just serve as a youth rifle.
If you can find one, a Remington 600 was also a wonderful smaller rifle and available in some lighter calibers, but also in .308. Sometimes these can be found as bargains.
Also on the list of guns I recommend regularly are Ruger .44 Mag Carbines (semi-auto).
FYI, I have taught Hunter Safety for 27 years and in 6 states and the one thing I can say is that I would avoid any exposed hammer gun for a youth. Most of us grew up with 94's or H&R's, but they are really not a good choice as the dexterity involved in using them can sometimes be too much for a young shooter when 'buck fever' takes over.
Your interest in a good bolt gun is excellent. Not sure how 'big' the deer in Arkansas, but if they are smaller (like the deer I used to hunt around Fayetteville NC) vs. the big deer up here in Vermont... you can have him shoot a light bullet to cut down on recoil.
Hope this helps and cheers,
Sirhr