I read a letter once, from The Rhodes Foundation, and it made it very clear that Freddie was never a Rhodes Scolar.
From http://www.home.earthlink.net/~defender/de01006.htm:
Quoting the Pursuer's Proof of the Scottish Court of Sessions, November 1954, the following exchange took place:
Franz: Yes, in the University of Cincinnati we studied the famous Westcott and Hort edition of the Greek text.
Attorney: I think you yourself left Cincinnati University without taking a degree, as Mr. Leslie elicited, but I do not think you told us one other matter. Is it the case that you sat for and were awarded a Rhodes Scholarship?
Franz: Yes, I was offered a Cecil Rhodes Scholarship, I took an examination for that in the University of Ohio, the State University at Columbus, Ohio.
Attorney: What year was that when you were nominated a Rhodes Scholar?
Franz: That was in 1914, but in view of my decision as to the ministry as one of Jehovah's Witnesses I turned that down.A publication written by a Watchtower vice president entitled 'Faith on the March', page 181, makes the following statement:
A scholar from his youth, Franz is a keen student of the Bible. Born in Covington, Kentucky, in 1893, he carried away the honors of the University of Cincinnati and was offered the privilege of going to Oxford or Cambridge in England under the Rhodes Plan. Instead, in 1914, he entered the full-time ministry.I wrote to The Rhodes Scholarship Trust to verify whether or not Fred Franz was ever awarded, or nominated for, a Cecil Rhodes Scholarship. I received the following reply from the Assistant to the American Secretary:
"The only information kept by the Rhodes Scholarship Trust is that Frederick W. Franz was certified as having passed the qualifying examinations for the Rhodes Scholarships in October 1913, including the examination in Greek. This was only the first step in the process of becoming a Rhodes Scholar, and we have no further records of his continuing in the competition for a Rhodes Scholarship in 1914.The Rhodes Scholar elected from Ohio in 1914 was William Webster Sant who was killed in war service in 1917."
Emphasis added by Aude.