Little was unable to save the man's life but his heroic act was recognised by the Royal Humane Society.
The proud father said Jessica had taken the rescue in her stride.
"Jessie's an action girl and my great-grandfather was a bit of an action guy."
His daughter, however, wasn't comfortable with being called a hero.
"I'm no hero. Anyone would have done what I did in my situation, I'm sure," she said.
Munro and Hodge were coming home from rowing trials for the New Zealand squad when they saw a woman face-down in the water.
They braved cold water and a strong current to reach the woman and drag her to the bank near Cambridge.
They unsuccessfully tried to resuscitate her and stayed with the body until a rescue boat reached them.
Munro moved to the US two weeks ago to take up a rowing scholarship at Washington State University where she is studying psychology.
Hodge recently returned from competing in the World Junior Rowing Championships in England.