DS wants to walk or cycle to school with his friend (who is 5 minutes further from school than us). He asked ages ago and we said that we would consider it when he started Y5. He moves to Y5 in September and is now asking again.
DH says to let him go. I remember that at his age I had a 15 minute walk to the bus stop, crossing a major road and then a 30 minute bus trip to school. But when I was chatting to my neighbour (who has a DC in his class) she threw up her arms in horror and announced that her DC wouldn't be going to school on their own until the very end of Y6.
Journey to school is 25 minutes walk or 10 minutes cycle. There are no major roads and it's through a residential area (full of school children/parents walking to school so always someone about).