Resetting ipad mini with new apple id?

I just set up my daughter's ipad mini with my apple id (thinking that would be the only way for her to get the hundreds of apps, music, movies that we've already purchased and that she uses on her ipod).

Now, she has all of my contacts, calendars, etc and she doesn't want all of that. I just read that I cannot re-associate her device with another apple id for 90 days. What will happen if I remove her device association from my apple id? I just want to know what to tell her to expect for those 90 days.