I had the same deal with my son. He brought home "High Honors" on his report card so to the bow shop we went.
I picked him up a PSE Spyder. Its on order right now should be here next week. His buddy has one so we had a chance to try it out. The draw length changes like 6 inches or so and you can adjust the weight around 15 pounds.
Others to look at is Alpine. They make a bow that is a split limb compound with 8 inches of draw length and im told for 20 dollars they will swap limbs out for you so it would grow with her.
Another one to look at would be the Browning Micro Madis III. This one is like the others as it can be adjusted.
If you have a pro shop within driving distance I would go there. If not look online and you can find some great deals on used ones.
http://www.Archery.net is a good site and check out
http://www.archerytalk.com/ they have a classified section there.
Good luck and enjoy
Don