As Kimmy said..you have to evaluate the risk/reward.
There are alot of unforeseeables with this kind of situation and though things might look great right now, it could turn into a huge headache down the road...both for you and for her.
When we first got started in this biz back in 97, we were doing live video conferencing and we hired this girl who was 18. It was all fine and dandy until her parents got involved..
It might be best to do what you suggested and shoot her now and release it when she graduates. I also like the idea of 'anticipation' and 'countdown' until she graduates..you can really play on that alot marketing wise..
