Rush Week (1989) on Netflix

Plot summary

The campus paper at Tambler College sends Toni Daniels to cover rush week, and she interviews fraternity members and Dean Grail. Student Julie McGuffin disappears after a nude modeling session held secretly in the science building, and Toni looks into the case on her own. Julie's roommate Sarah tells her Julie was paid well to pose for a man whose name she never gave, and that Alma Gifford, an escort, made the introduction. Alma is missing too, and after a fraternity prank she flees into the woods, pursued by a cloaked figure with an axe. Jeff Jacobs, who heads Beta Delta Beta, says Alma ran off and that he could not find her, then begins to court Toni. Byron, a friend of Jeff's, warns her that Jeff has changed since his girlfriend was killed the year before.