I love Erica's response in her blog post "Why I Homeschool". Another great post I read recently suggested that a true friend, a friend of good influence, is rarely the exact age of your child. Both are must-read posts on this topic with sound advice.
For me, I'd say that just as I am choosing to be responsible for my child's education, I'm choosing to be responsible for his (her) friends as well. My child will socialize with others that I think will have a positive influence on his character until the time I feel he is prepared and mature enough to choose his own friends. I can't have that kind of influence when my child is away from me for 6-8 hours a day. It's all about "training up a child"; and training my child to choose his influences is extremely important to me (and to God, just read Proverbs).
I'll be praying for you, Amy, as you handle the questions that may arise. Be confident in what the Lord has led you to do, and let the "proof be in the pudding."