ProPublica has a great summation up about the recent Fox Searchlight Supreme Court decision regarding unpaid internships – if you're a student looking for one or an entity looking to offer one, you have to read it and understand this case.
Thankfully, it's not too complex: Pretty much, unpaid internships violate federal labor laws.
And, yes, I get dozens of emails and phone calls a month with GREAT OPPORTUNITIES for my kids. I will admit that I filter most of those offers out and try to educate the offerer, though I suspect they find a way to reach some students some where. We do talk about the business side of visual journalism in my courses, so my kids know what to watch out for.
(Thanks to colleague Prof. Barry Hollander for the link.)