I think its ok, if your able to monitor what she does. Like put parental controls on her account. And limit her to like 30 mins or so on the net.
I was the worst with the internet when I was a teen, I got in tons of trouble. With "adult" websites, meeting people from the net, I got my parents kicked off from aol twice, one for saying the dumbest thing to one of my friends. I had a new email addy, and they didn't recognize it. And I told them I was a 40 year old man, that was going to get them. lol He reported me to aol.
Well to make a long story short, The internet can be a dangerous place, and addicting. So watch what she does on there, limit her time on there. And don't let her get any "friend" sites like myspace or facebook, etc.
I know shes young, but you never know what kids are capable of now adays.

  when I had grandkids living with me, they also wanted accounts. I set them up with accounts but I had the passwords. I would check their mail before letting them see it to make sure there wasn't anything undesireable.  It was a great way for them to practice their typing, spelling and grammar by sending emails to other family members. 

Thank you all....  It's been really on mymind since my daughter asked me....  I think I will wait just a bit more. 

 

Thanks Pleadship... And welcome 2 SA... Wishing you many winssssss