The impact of government legislation and regulation on Wellesley College in Massachusetts is analyzed. The impact of federal aid on the economics of the college is considered in terms of capital resources and operating resources. The analysis also considers the effects of government legislation and regulation on capital costs, first-time implementation costs, and continuing operating expenses. The influence of government programs on the character and the philosophy of the college is also considered. Two highly visible areas of college/government relations are student financial aid and civil rights. Civil rights issues include: affirmative action and minority employment, sex discrimination, the Buckley Amendment (student records), age discrimination, and research on human subjects. Other legislation and regulations affecting higher education concern copyrights, the Higher Education General Information Survey, occupational safety and health, tax reform, gifts of stock to colleges, the Comprehensive Employment and Training Act (CETA) program, and fair labor standards. Various college officials' assessments of these issues are presented. (S)