Events after the movie ends **SPOILERS**
I always wondered what took place after the movie's ending. My guess: Mac calls into the walkie talkie (I think he had one) saying he's located the killer. Barney (walking around in a daze) starts to talk in her 2 different voices, sitting down in pure confusion.
The police come in, arrest Barney, who suddenly gets hostile and aggressive, talking in the multiple voices again. As she is brought to the squad car, she gets even more wilder. Her unearthly yelling combined with the voices are heard even with the car doors closed. Bystanders are standing around looking, and eventually are told to disperse, going back to their dorms.
Years later, after Mac has retired from security, the whole story of the killer in the bear suit spreads, becoming the new story amongst the fraternity and sorority houses.