It’s relevant to note that some PSLOCs (such as Scotia’s) don’t require you to make any payments while in school - not even interest, they just add it to your balance every month.
I get that what you’re saying is that during school a difference in interest rate can change significantly the amount you’ll have to pay at a time when your income will be low. That’s valid if you have a plan that requires interest payments while in school. It’s imporant to make sure you can service this loan while studying, no doubt
Blocked’s point is also valid, though. Interest rates ARE very low right now (on a historical basis) and over the lifetime of your loan, this seems to be the more appropriate basis to evaluate since the floating nature of PSLOCs mean that we could once again see much higher prime rates.
I don’t necessarily think that you guys are arguing about the same thing. Blocked is talking about lifetime repayment (which is one important consideration) and you’re talking about repayment while in school (which is also important, if you have to make interest payments, or chose to, while studying).