They do have a team policy. I've actually seen the handout (probably while I was hooking up with a player if you ask the BC crowd), and it's basically what brassbonanza said. Players who are of legal drinking age are allowed to drink on Saturday nights as long as there isn't a game Sunday or Monday (or Tuesday, I assume). There is also a warning right on the handout that being allowed to drink does not mean you're allowed to drink in excess or become belligerent. It says something like, "Go out and have fun, but don't drink so much that you do something you'll regret," and then reminds them that they're still representing the team and the university even when they're out at a bar.