How would you interpret this sentence?
She has no schedule.
What do you mean?
I don't know what exactly the sentence means, so I asked the question.
It means that in the time period we are talking about, she has not planned any activities, nor has anyone assigned her anything, so she is free to do whatever is necessary, whenever convenient.
So to you it doesn't really sound the same as 'She has time now/She is free now'? Does it sound a bit more specific?
If she has no schedule now, then it can certainly mean she is free now. It really depends on context.
Aha. "She has nothing scheduled now" is of course the careful way to say it. But "she's got no schedule", with the "now" implied, is common enough if a little sloppy.