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From the life lesson perspective, I think its a cool idea. She can save for a year and get a very nice example for around $5k. Don't get a crummy/cheap one. You will hate life.
It WILL require maintenance. It certainly will be cool if she wants to learn wrenching with you on weekends, but you'd have to feel that out before getting into it, cause if she doesn't like it, its going to be a lot of your time without any quality bonding.
SO-
1) If she can afford to have the car out of commission for a week here or there, go for it.
2) If she wants to learn how to work on it WITH you, thats awesome. Go for it.
3) If she saves the money herself and this is what she wants, go for it.
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