Thanks everyone for the input! I want to make clear, this GT was the bike she wanted, I was just the guy paying for it, it was her choice. After taking a longer ride this weekend though, she decided she likes my wife's hybrid more, and my wife isn't interested in a trade.
Anyway, I just found out that her college has a bike rental program. $40 a semester and you get a rental bike, and they do the maintenance for you. I'll call tomorrow and get the details. Now I just gotta figure out a plan for this GT.
Maybe I'll strip off the decals and ride it myself.
Actually I think the decals are all painted on the frame.