I can easily recall my freshman year of college. The parties, the classes, the consistent odor lurking in the dorm rooms and, of course, my first credit card. Visa was everywhere, and I mean everywhere, I wanted to be.

This, naturally, led to one thing: credit card debt. But, that was only part of the problem.

Not only did I have a huge credit card bill, but I had about eight dollars in my checking account. I was broke and I was desperate. So, when a friend of mine told me of a pyramid scheme she was joining, naturally I listened. It sounded so easy and it sounded like the answer to all my problems.

The concept was simple. I had to donate a set amount of money. I believe it was a hundred dollars which, to a college student, is comparable to Bill Gate’s salary. After the donation, I would officially be a “member.”

I would start out on the bottom and my membership fee would be given to the highest member, the person on the top of the pyramid. Once this person received a set amount of funds, they would vacate their position and everyone would move up a tier. I would then be one step closer to being the top member.

Until I reached the top, my job as a member would be to solicit others to join in our club. The more people recruited, the more money involved, and the quicker everyone else, myself included, would see the benefits. Soon, it’d be pay day.

Ironically, it was my lack of money that saved me money: I didn’t have a hundred dollars and so, I was unable to join. Had I had the funds, I’m certain I would have joined in a heartbeat. It was an opportunity that just seemed too good to pass up.

Turns out, it was also too good to be true.

All of the people I knew involved in the pyramid scheme ended up scammed. Pyramid schemes simply don’t work because they rely on peoples’ willingness to join. Even pyramid schemes that start off with overzealous members will eventually lose steam and collapse. This means that everyone involved, sans the top member, will be scammed out of all their money.

When it comes down to it, there are more people who can’t afford to join pyramid schemes than those who can. There are also more people who see right through pyramid schemes than there are people who want to join them. This makes sustaining a pyramid virtually impossible.

For anyone starting college or in college, I can all but guarantee that sometime during your scholastic years you will be asked to join a pyramid scheme. It might masquerade as a lifesaver, but it’s the furthest thing from.

Like most things that are too good to be true, a pyramid scheme is little more than a pyramid scam. In the end, joining one will only cost you. Stay away from pyramid schemes. Instead, beg your parents for money.

Author Bio: Laura Cosse’ is a well-known Internet marketer who has developed large teams in several different online ventures. She is currently working with Internet Leveraging and Marketing, ILM, as a team leader and trainer. For more on Laura and ILM, please visit http://www.ILMdiamond.com and take a tour.