Most internships have a set begin date and end date and ought to leave plenty of time for wisdom teeth and RA training. The graduation is a maybe depending on the timing.
Credit- it will depend on the company. Getting college credit is a workaround to allow companies to legally pay less than minimum wage for the workers. In some industries, it is very common (magazines, some media companies). In others it is much less common (banking, engineering). Your D may be lucky enough to have a choice (one of my kids had a choice- credit or compensation and of course he took the dough) but she may not.
And I would think long and hard about having to pay to get “credit” if it’s something more than nominal. If it’s a $250 fee for processing and having a Dean eyeball a description of her summer to make sure it had educational value- sure. But a charge comparable to a full college class? I’d need a lot of persuading on that.