Is out-of-state not going to be an option for her? Most parents don't move and follow their children if the happen to attend an out of state school... Just a thought.
Anyway, I live in PA and we have 529s for both of our kids, who are now almost 7 and 9. So we have 8-11 years before they head off to college, should they decide to do so. Since PA allows deductions (at the state level) for contributions to the 529, regardless of which state sponsors the plan you elect, we actually went with NY's 529 due to lower fees and vanguard fund choices (our preference). So this is not the same type of 529 as you are proposing.
Are you certain it is excluded from Financial Aid determinations? I didn't think that was the case, unless the account is held by a grandparent or some other less close relative. But I could be wrong, or this could be a difference between the GSP you are looking at and the IP we actually have.
However, given your current situation, I would focus on paying off your own student loans and contributing to retirement funds, not your daughter's educational expenses. If she happens to receive gifts from family from time to time, I would set that aside and put it into a 529, or in lieu of gifts for birthday or Christmas, put $ aside for her.