Brisket, I apologize for being late to this thread as I went thru a very similar issue the last two years. Daughter had a 4.0, 33 ACT, speaks a couple of languages, yada yada yada. I was hoping she'd pick UT or another local Texas school (hell, I have the Hazlewood for her to use - 150cr hrs for in-state public schools tuition waived) but she was bound and determined to go to a school nationally/globally recognized in the field she wanted to pursue.
Her career path of choice in this case is UX. UT doesn't have an undergrad program in the specialty but they do have a masters - no problem right? She can go to UT in any undergrad program then get her masters right? Negative, she wanted to first get her undergrad in UX then consider a masters later. /facepalm. After some research (on her part) it came down to UC San Diego (ick), Berkeley (ick), Carnegie Mellon (I thought that was for pilots?), UDub in Seattle (nice), or MSOE (what?). Turns out MSOE has a 100% placement rate for UX undergrads at a significantly higher starting salary, who knew? She applied and was called the next day being told she's accepted with a scholarship offer that accounted for over 2/3's of her tuition (hey, this girl in STEM thing is for real).
Long setup - here's the point: One year later she's in her second semester in winter cold Milwaukee, far away from home and LOVING IT. She's enjoying the whole process of stepping out on her own and being immersed in a different environment than home (Austin/RR her entire life). Yeah it's a pain in the butt because I don't get to see her that often, visits are a logistics coordination effort after all, but I've learned to make scheduled calls with her every single week at a designated time which she REALLY appreciates. It may sound cliche but daughters really do need their dads to stay in contact: when she has rough spots she's cried on the phone a couple of times here and there, but she's growing stronger and more confident and I really feel like I'm a part of that by just being her support back home.
tl;dr: you and your daughter will be fine, I'm going thru it now and it'll be a new stage of life for you both - it is possible to make it a great stage if you roll with it.