Is it too late to work for free?

Too late to intern. Not too late to shadow. Not too late to intern if you feel like taking off the fall semester.

You kind of answered your own question: if you don't ask, you definitely won't get an internship. There's always going to be some place looking for free slaves. Once you move away from BB's it becomes very subjective, so start calling MMs and boutiques.

Just out of curiosity, why are you starting the search now?

I go to a small liberal arts school in Arkansas, so saying I was uneducated to the whole process would be an understatement. I just didn't know.

If you're a freshman, I'd just enjoy the last summer you'll ever see the light of day. Otherwise, just start calling them up. Good luck, and happy hunting

There are still firms out there who will take unpaid interns. Interns jump ship, take vacations, etc during the summer you never know.