Is it risky to be on too many .edu link lists?

[ProjectLabs]

I recently heard someone say that if your site is on a lot of link lists (example "Useful Links" pages) this can hurt you.

How likely is a Google penalty if your site is listed on tons of .edu link lists?

[Chris.Menke]

If your online business is being propped up by tons of spam links--I mean .edu link lists links---be aware that the crutch could be pulled out from under you at any time.  The likelihood of it happening will grow over  time.  Time to get started on building some real brand equity.

[iPullRank]

Hey Charles,

A spammy link is a spammy link whether it comes from .edu sites or not. .Edu sites don't get any special considerations in the ways of spam. If the links make sense in context of the site that you are getting them from, then I wouldn't worry. However if you're getting a ton of list site links from pages that have nothing to do with your space at all, then I would worry about those especially if they are sitewides or on pages that have other clear indications of spam like adsense or too many ad blocks.

-Mike