The grades of University of Maryland athletes rose slightly this year, including those of the men's basketball and football teams, according to figures released by the university.

The cumulative grade-point average for all athletes in Maryland's 19 revenue and nonrevenue sports was 2.42 for 1986-87, compared with 2.39 a year ago. Bud Edwards, vice chancellor for institutional advancement, said yesterday the overall grades for athletes were comparable to those of the rest of the College Park student body.

GPAs for Maryland's basketball team were lower than the overall average for athletes, but rose slightly from 1.82 last year to 1.99 this spring.

However, sources said two of the 14 team members flunked out this spring. The sources said that without those two averages figured in, the GPA would be approximately 2.3. Guard Teyon McCoy achieved a 3.2 and has been nominated for academic all-ACC honors.

Sources said the two basketball players who flunked out were Ivan Powell, a junior college transfer guard who has transferred to Connecticut, and center/forward David Gregg, who was suspended by Chancellor John Slaughter when he was indicted last July on charges of possession of cocaine and obstruction of justice in connection with the death of Len Bias.

Gregg remained on suspension after charges were dropped in exchange for his testimony against Brian Tribble. A campus judicial board ruled him ineligible for the entire season.

Gregg confirmed yesterday that he had been academically dismissed. He said he is not sure of his plans but is looking at "three or four" schools, none in this area. "I've had too many things on my mind," he said.

Powell could not be reached for comment.

Maryland basketball coach Bob Wade said the Terrapins did a "commendable job academically" under adverse circumstances, which he said included scrutiny in the aftermath of Bias' death and a rearranged basketball schedule that sometimes forced them to play three and four games a week during the winter.

Edwards called the increase in basketball players' grades "encouraging."

Edwards said the cumulative GPA of Maryland's 122 football players rose from 2.12 last year to 2.23 this spring, after falling to 2.09 in the fall of 1986.