The Department of Health, Education and Welfare's (HEW) final version of its policy interpretation on sex discrimination in varsity collegiate athletics is presented. The policy interpretation is intended to clarify what the Title IX regulation requires and will be used to determine whether a college's intercollegiate athletic program is in compliance with Title IX. Tables compare the key provisions of the regulation and the policy interpretations. The final policy interpretation clarifies the meaning of "equal opportunity" in intercollegiate athletics. The key standards for measuring compliance are: overall proportionality in availability of athletic scholarships; overall (program-wide) equivalence in availability, quality, and kind of athletic benefits, opportunities, and treatment afforded student athletes; and effectiveness in equally accommodating the interests and abilities of presently enrolled male and female student athletes. The policy does not require that program components be identical, but it provides a limited number of acceptable justifications for "nondiscriminatory differences" in each of the three major areas. The policy interpretation also describes the procedures used by HEW to enforce Title IX and it introduces a state of conditional compliance. (SW)