We have parent plus loans for both my kids…the interest rate is definitely higher than a private loan, and loan repayment is the parents’ responsibility not the student’s. So, if anything happens, you’re holding the bag.
You take out a new loan at a new interest rate every year. You have the option to just pay the interest while they are in school if you want.
You can defer the loan payment until 6 months post-graduation. It’s usually 10 year repayment plan, but you can extend that.