Is it ok to allow your 12 year old daughter walk home from School?

Because our school system will not allow the bus to pick up kids within a one mile radius of the school, we have to either let our kids walk back and forth, or drive them in and pick them up. I am a single parent, work full time, and i work 1/2 hour away. Is it appropriate to let your child walk home from school either with a friend or alone. We live about 4 blocks away. I can drop her off but cannot pick her up, my dad will be home when she gets there
 
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