I hope this does not come off offensive, my purpose here is to be honest.
A gymnast should no be doing 2/day workouts unless they are on the elite track. It seems like a simple decision: home school vs. reg school. But, the 2/day workouts are very hard on the body, and mentally exhausting.
Keep her in school!
Scholarships are pipe dreams. Great when they come though, but don't count on them at all. Been there, done that.
In fact, my DS had a 2/3 scholarship to NorthWestern in Chicago in the bag. Top 1% of his class, tested-out of almost all advanced subjects, scored a 30 on his ACT, graduated HS in december because the school had nothing else to offer him.
He turned it down to attend The Culinary Institute in NY -- without any outside funding; other then dear dad. (sigh...that still kills me).
One of my bright light / lesson learned:
Don't avoid the schools that cost the most (Ivy). Big expensive schools have equally BIG endowments. Studies have show that sometimes it's actually cheaper to attend an Ivy then it is a lesser known University. If your DD has the academics, the drive, and the aptitude, the school will help find a way for her to attend. They often know what you can afford better then you do yourself, and will draw from the endowment and other funding sources to do whatever it takes to get your daughter into school. Competitive gym helps, even when they don't offer a Gym program. (It shows team player..reaching for very lofty goals, do whatever it takes, etc). All good stuff.