The 5% interest is chump change. I would hope that the judge would see the abject refusal to pay as just contempt of court. Slap the college with $100,000 a day until they pay up. They have the money; they just don’t want to part with it. Make them want to.
In this case "WRIT OF EXCERCUTION." that would mean, the insurance carrier would be forced to sign / endorse the bond (check) that is in the file / courts purse, courts procession, if you will.
I.e., they would receive payment after the Writ were issued, maybe 5 min. or less.
Make no mistake, the next court date, someone should be walking out of the courthouse with a very big check / bond. Hearing should last no more than five minutes at best, after Oberlin College makes its last ditch effort, of crying and whining, a.k.a., bitching and moaning why they shouldn't have to pay for their mis-deeds.