i imagine girls being into pageants because it's fun to dress up, look as beautiful as you can (aside from the wedding day) and be in the spot light for a few seconds. Which I think is fine. Guys do the same but it's usually being a fighter or racing cars.
So as long as she's down to earth and modest about her competition, I'd support her.
I was friends with this girl carmen she was the 1999 miss paraguay. I never really thought twice about it she was fun to hang out with and a beautiful person. It definitely wasn't a turn off I can't say it was a turn on either it was just part of who she was and she was a good friend.
It completely depends if she is a stereotypical beauty queen or not. If she fits the image of a girl who is completely snobby, self-righteous and unintelligent but was coincidentally graced with beauty, then I wouldn't be able to stand her. If she was a smart, funny girl with a great personality who happened to be beautiful, I'd be fighting the other guys off with a stick.
It would not change my opinion at all. If she was a beauty queen then I could probably already tell that by the way she looks. That just leaves her personality. I've never actually met one, so I couldn't say if they were stuck up or anything.
I would be fascinated and ask for all sorts of beauty advice!
I personally don't like the idea of beauty pageants, but a lot of girls who compete in it are not airheads or anything. Mostly, they do it to advance their careers in film and television and as you say, for scholarship money. I still think there are better ways of earning scholarship money than strutting around in a swimsuit and evening gown (like scholarships based on pure academic achievement) but if you have the looks for it and it's an opportunity, why not? If you must enter one, be original. I used to watch the pageants on t.v. and when it came to final questions, they all seemed a bit boring, so be original!