First and foremost, you’re taking a huge risk by hiring an unpaid intern. More recently there have been unpaid interns suing large corporations, for well, let’s say a lot of money. Millions. Their claim, you ask? Well, when you have an unpaid intern they are only in the work place to learn. This means that they are not there to do work, but to experience the environment and become informed.
This is all comes from the FLSA, better known as Fair Labor Standards Act. Through this act are the laws of minimum wage, child labor laws, and all the other important ones, including working others unpaid. I’m not saying you cannot and should not hire an unpaid intern, however, if you decide to do so be wise. Be sure that if for some reason a complaint was filed to the FLSA that you could somehow prove that the intern was only there to learn, experience and better themselves (not your company).
Truthfully most interns find themselves doing work regardless. If you are there to learn, you have to learn through experience. This includes doing the actual work. So, while they are helping out the company and still maybe learning a bit why not pay them at least minimum wage? This makes the interns want to do well, and impress their higher ups. Not to mention you’re doing your part to help out the economy.
By hiring and paying an intern you are both helping the student, and potentially saving a lot of money from a law suit. But if for some reason it isn’t doable, just be sure to have all your bases covered.