If your daughter wants to do research in graduate school in STEM, her PhD tuition will be subsidized and she’ll also receive a stipend. Some of the stipends aren’t very big, but most will pay enough for living expenses. This is a big contrast to med/law/other professional school, and to grad school in non-STEM disciplines.
I think it’s smart to pursue merit aid, but if she goes to grad school in a STEM field, it will take about 6 years on average to get a PhD and it should be fully funded. Don’t bother with a Master’s degree as those are generally not fully funded and have fallen out of favor in biology (except in very specific fields or circumstances).
A bio prof friend at W&L recommended this scholarship for my son. He’s not interested in the school, but perhaps it will be useful for your daughter: