Study abroad can be such a life changing experience. I actually think she’d get more out of that. Plus, quality of life in the future would be so much better. For the same money, she could end up with a master’s degree, have spent a semester or year abroad, and still have significantly less debt than going to W&L. Just my two cents, but I don’t think it’s worth it.
On a more personal side note, I was the scholarship kid who went to a small private school near W&L many many moons ago. I didn’t come from a poor family, but we were definitely more middle class. I eventually found it frustrating to be around kids who had so much more than I did. None of my friends worked campus jobs and all went on beautiful summer vacations and had luxuries that I couldn’t afford. Very isolating even though I know there were other kids on campus like me. Just something to think about.