Fixed merit aid (Oberlin, Mt Holyoke) v. fluctuating need-based some merit(Smith, St.Olaf, L&C)

I think your daughter is lucky to have such great choices. I think she should make the choice based on what is her first choice regardless of the money. The differences you cite will vanish in significance over a lifetime but her happiness and affection for her alma mater should not. That having been said, I would not have given up a minute of my four years at Mount Holyoke for anything and I would go there all over again in a nanosecond. She will love it there!