I think the truth is that he was elected a Rhodes Scholar candidate, but like most leftists of his time, lost any regard for such establishment academic distinctions, and wandered off to "find himself"... in Russia and communist eastern Europe. Consequently, he did not finish the requirments of the Rhodes Scholar program. He was an intellectually lazy SOB anyway, and probably would have been accused of rape or worse had he remained in England.
You have to complete the program to truly be a Rhodes scholar. The truth is this bum only used the opportunity to travel for free to what all the dope-smoking hippies thought was some kind of paradise where the hash and p**ntang were free and everyone just kind of hung around making nice if they weren't actually screwing. The bum has always bad-mouthed America just as he did back then to all his Sorbonne Leftie and Che wannbe cronies, who were as ubiquitious as filth in Europe back in those days (probably still are). He was a bum back then, he was a bum as POTUS, and if possible, an even bigger bum now then back then.