November 11, 2015 5:11 PM

Dr. Anthony Liberatore, director of Millikin University's MBA Program, recently sat down with WAND-TV and offered insight into payday and title loan investments as well as financial independence.

"The rates are really high for people whom can't afford to be in the regular banking system. The costs are tremendous," says Dr. Liberatore. "If the risk is high, the lender wants a higher return, because they're going to lose out on a number of loans so they have to make it up."

Dr. Liberatore has co-authored a widely distributed "Quarterly Economic and Financial Forecast" for over a decade and has been selected a number of times for the Tabor School Teaching Excellence Award at Millikin University.

Dr. Liberatore has served as a senior government advisor, been a small business owner, served on a number of boards, and consulted with scores of companies around the country on business, management, and leadership development. Dr. Liberatore also served as the chairman of the Board and CEO of Illini Corporation, an Illinois bank holding company.

Click here to view more of Dr. Anthony Liberatore's interview on WAND-TV.