| 1986 Qualifications Results | ||
| Place | Team | Time |
| 1 | Phi Delta Theta | 2:15.12 |
| 2 | Phi Gamma Delta | 2:17.68 |
| 3 | Sigma Alpha Epsilon | 2:19.42 |
| 4 | Pi Kappa Alpha | 2:19.42 |
| 5 | Alpha Epsilon Pi | 2:19.71 |
| 6 | Lambda Chi Alpha | 2:20.02 |
| 7 | Theta Chi | 2:20.88 |
| 8 | Chi Phi | 2:21.06 |
| 9 | Kappa Sigma | 2:21.08 |
| 10 | Cinzano | 2:21.23 |
| 11 | Sigma Nu | 2:22.21 |
| 12 | Alpha Tau Omega | 2:22.45 |
| 13 | Sigma Phi Epsilon | 2:22.57 |
| 14 | Cutters | 2:22.67 |
| 15 | Delta Tau Delta | 2:23.03 |
| 16 | Phi Kappa Psi | 2:23.10 |
| 17 | Collins Graitas | 2:23.47 |
| 18 | Acacia | 2:23.50 |
| 19 | Joint Venture | 2:24.02 |
| 20 | Alpha Sigma Phi | 2:24.35 |
| 21 | Sigma Chi | 2:24.87 |
| 22 | Evans Scholars | 2:24.89 |
| 23 | Chain Gang | 2:25.02 |
| 24 | Sigma Alpha Mu | 2:25.10 |
| 25 | Americana | 2:25.41 |
| 26 | Delta Upsilon | 2:25.61 |
| 27 | Trophydash | 2:25.95 |
| 28 | Read Curry Top Drawer | 2:26.08 |
| 29 | Nichols Cyclones | 2:26.09 |
| 30 | Kappa Delta Rho | 2:27.65 |
| 31 | Read Beck II Visitors | 2:27.65 |
| 32 | Pi Kappa Phi | 2:27.73 |
| 33 | Sigma Pi | 2:28.42 |