Having a shitty internship or not looking forward to the prospect of having to look for an internship
"what are you plans this week?"
"oh I have to take care of this internshit it sucks!"
"what are those papers about?"
"oh thats just internshit"
(n): A internship that produces no measurable value to the intern, possibly with false promises of real responsibility and/or makes you hate your life each day.
"Hey how's the project coming along at the manufacturing company?"
"Well, I just make coffee for my boss every day and unclog the toilet in the women's bathroom a few times each week. It's more like an internshit."