My 2cents worth on this project:

Clean and tune it up.
Replace the tires if needed.
Find a nice set of fenders for it since it has fender eyelets.
Ride around with her while she's visiting.
When she's ready to head back to school just let her know the bike will be there when she comes back for another visit.
Then store it away until she comes back again.

I suspect she'll be back in the dry months to get some more miles in on it.

Just my 2cents worth of a suggestion.