Unpaid internships are a joke, at least in the field I'm in. It's getting free labor out of someone while they do 80% of what I do. That isn't ideal, but the older generation has pushed onto the younger generation so much that they need to do this it's become the norm for college kids. I never took an unpaid internship and the only "free" work I ever did was on an archaeology project that I was interested in. Sure I gained experience, but it was more of a volunteer thing than anything else. No one should work for free though unless it's volunteer work, with how the economy is setup in the US, you exchange goods/services for money, which means you're exchanging your time, effort, knowledge, etc. for a paycheck. I suppose the only stipulation would be is if you're earning college credits in your internship since you're getting something in return.
Thankfully, where I'm at now pays their interns based on where they land in the organization. It's not a ton of money, but the one intern we had was making enough to pay for schooling and we offer college credits too. I really liked them and they were a great worker who picked up things really quickly. Unfortunately, they had zero plans to stay in Utah and moved as soon as they graduated.
I don't know, even at 60%, you're not going to make a living wage. In Salt Lake City, the median income is $31,000 which means the minimum wage would be $18,600 or about $9 an hour at 40 hours per week before the city, state, and federal taxes. You're not living in SLC for $9 an hour and the likelihood you even find someone to rent you a studio apartment is low and that's if you can find a place to rent in the first place. Even if you were working 80 hours a week that's less than $38,000 a year and that's might be just enough to score you a studio apartment in a "bad" area. Even then you're still shelling out at least $1,000 a month for rent.
It seems like we should be looking at how to decrease the cost of living instead of setting a number people should get paid. If everyone working was suddenly making more money, there would be more demand for things, and prices would go up. That would put us right back to square one where people. There would also, inevitably, be the company that cuts hours so they don't have to pay a certain wage to their employees. I know that's not exactly the best business strategy but it has to work on some level since companies do it.