One of my kids was on the quarter system. Yes, she didn’t get home to start a summer job until mid-June. BUT she picked up tons of extra hours (and pay) from mid-august to mid-September….because all of the other college students were back at school.
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I’ve noticed this can be a problem at a handful of east coast firms (mainly financial services). Most of the colleges on the east coast use semester system. And they onboard the summer interns within a narrow time frame in May. Since the onboarding and training takes an entire week, they don’t like to accommodate a mid-june start. Again this is not everyone, but just something to keep in mind. The vast majority of employers I’ve seen are flexible about this.
The firms that do this lose out on the great students from UChicago, Stanford, UC Berkley and other west coast schools. But its their loss.
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Probably not Berkeley as Berkeley and Merced are the two UCs that are on the semester system. 
The rest, and Cal Poly SLO and Stanford, are on the quarter system.
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Thanks for all the replies…lots to think about but I am now maybe seeing the quarter system as more of a positive than I did before. And we are not talking about T20 type schools so I don’t think some of these issues apply with regard to top internships.