Urgent advice for FT offer

I have interned throughout HFs/PE firms while in college (1 PE firm in chicago, 2 HFs in NYC). Interned at an event driven fund in NYC last summer. My summer FT conversion got rescinded ~feb because the fund downsized. I started looking for new roles around then. I found this one fund with a very good pedigree that was looking for analysts. I interviewed there. With the covid-19 situation, the recruiting process was initially stalled. However, I kept persisting since I was desparate to land an offer.

They said they were looking for someone with more exp, but they could give me an unpaid internship until May and see how I do and then make me an offer. I did work until last week and both the guys were extremely happy with my work - ended up getting good feedback every week and what not. They even did reference checks they wanted to do before proceeding with an offer with the past funds I worked at and all of my ex-bosses said that the calls went really well.

I asked one of the guys at the fund about an offer today since I'm graduating in a couple of weeks and he said that I'll be speaking to the PM and him later this week. I really need an offer since I have an outstanding student loan balance I need to start paying off and also need to find a place to stay because the lease for the place I'm staying at is over in 2 weeks and no one is going to give me a place to stay without any proof of income.

The concerning thing the guy said today was the "I haven't spoken to the PM yet about your situation and I'm not sure if we can guarantee you a offer but we will definitely come out with a constructive outcome for all of us. We definitely want to work with you and will talk to the PM later this week and see what all of us could do."

I was under the impression because all of this went well and because the PM liked my work a lot, I would get an offer? But this guy looks like hasn't even brought up my case to the PM yet even after the PM asked him to do the reference checks? What should I do? What steps should I take to make sure the outcome of the call later this week is a hard offer and not some BS continuation thing? I'm tired of doing any more unpaid work. I did 2 internships at very good funds, have a good GPA from a target school and the only reason I'm in this situation is because I lucked out in feb with my offer. Any advice appreciated.