There are some who would posit that you are all fortunate not to have had to sit through a long, hot, boring event. And, some would also add that celebrations can still happen for those who need to celebrate.
Just think about it - why would a PSLOC be treated as an asset? It's a last resort and immediately begins accumulating interest when it's used. If that logic was applied, it would make sense for universities to consider credit card limits and other loans as 'available money'. It's not. It is available debt and bursaries are in place to help students with financial need limit their debt.
Definitely get the PSLOC; it will not effect your bursaries.
Bay is simply the most brain-dead way to get to a high starting salary. The application and interview process is basically paint by numbers. They set up the portal for you, tell you what you need to give them to apply, set the deadlines, come to your school to interview you, interview everyone on the same three days, and tell you right away if you're in or not. It's the most straight-forward job search you can imagine.
It come with its own problems and stresses as explored in myriad other posts, but it's far easier to do the recruit than have to pound the pavement on your own.
I don't work in private practice, but I do spend a fair amount of time with other lawyers and with judges in a civil litigation context and can speak to that. I have not run into any issues with judges, and I've found the bar to be quite open and accepting. Law students have a specific brand of paranoia and insecurity about them that I think fuels a lot of the garbage you see in school; practicing lawyers generally just want to bill and go home.
Are there a few douchebag lawyers out there who will throw comments about you being female or a minority? Sure, but in my experience those people are very few and far between, and even then they're much more likely to point out that you're junior. IMHO, they make those comments to try to get under your skin in an attempt to get the better of you in the case (spoiler alert: this is not a tactic advanced by competent counsel), so I've found the best way to deal with those people is to just not react and maintain your position. Everyone else in the bar knows who those douchebag lawyers are too - these things generally aren't very well-kept secrets - and you can be confident nobody will think less of you for holding your ground.