This is true for private loans, but for the Plus loans, if the parent or child dies, the loans are forgiven. That is one difference that people should check out when comparing Plus to private loans. Of course everyone hopes no one will die.
NJ also has a state loan program and there were a few situations where the child/student died and the parents were furious that they had to pay the loans. Well, they parent borrowed the money and agreed to pay it back. Forgiveness on death wasn’t a condition of the loan.