Final answer:
Direct PLUS Loans can be taken out by parents, grandparents, or graduate students to cover extra college expenses, but borrowers need to be aware of the responsibilities attached to these loans.
Explanation:
Direct PLUS Loans are loans that can be taken out by parents, grandparents, or graduate students to help cover additional college costs. These loans require a credit check, have higher interest rates, and the maximum amount you can borrow is the remaining cost of attending school. It's crucial for borrowers to understand that whoever is on the loan is responsible for it indefinitely, and repayment difficulties can even lead to the government garnishing Social Security benefits.
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