My child is suffering from OCD..!!

Hey,
My second daughter is 10 years old, and she was diagnosed with OCD. She is currently in 4th grade and in a public school. I think she has had OCD since from her 2nd grade, but only just now we were able to diagnose it.
We believe she is experiencing separation anxiety. Her OCD revolves around intrusive thoughts and impulses (not the actual impulses, but the emotion or impulse to do something that never works) and some things that are difficult to explain in the text.
This makes it difficult for her to go to school and make her an anxious child. Her thoughts/obsessions distract her and she loses important information. Fortunately, she does not exhibit any physical compulsions and maybe she does them mentally, we are still trying to figure it out.
A few of my friends suggested that taking any OCD therapy treatment would help to control her anxiety and can be cured. But a few others told that it's a life long condition. Is it true? Is OCD a lifelong condition? Is it possible to ever be completely cured of OCD? Being a mother I'm trying to give her the best treatment. Can someone help me to find the most effective treatment for OCD? I would be so happy with just that.