Pros
As an intern, you're fully engaged in your assigned project and everyone is friendly enough to help you out if you have a question. Every week there are intern exclusive events and lectures. The events are optional attendance but come in a wide range of fun and interests. The lectures are always fully catered and provide a unique learning experience for an intern.
Cons
There are very few cons as an intern which include: figuring out how you'll commute or carpool to the campus from where ever they housed you. Any other con is dependent on how well you work on your project. If you find yourself poor in self-management skills, you might be working against a clock everyday, otherwise you'll live very luxuriously in this internship experience.