On Thursday Bush unveiled his plan to freeze "teaser rates" on some adjustable-rate mortgages, to keep 1.2 million borrowers away from foreclosure if they aren't able to make their loan payments once the introductoryrate expires.
As you can imagine, the industry practice had always been to apply loan repayments to the lowest interest rate balances first, so they could pay down the 0% introductoryrate credit card offers, while cardholders amassed much higher interest on their new purchases.
This sets the stage for overpaying for college because while you may have an introductoryrate of 0%, that will quickly come to an end, and you may well end up spending a lot more than if you had used other options like student loans, Pell grants or TAP.
The most widespread problem is mortgages that had special introductory or "teaser" rates that made them more attractive than traditional fixed-rate loans in the first place.