In the early 1900s the legend of the 7th son transforming himself into a werewolf was so widespread and believed that it was causing a lot of children to be abandoned or given away for adoption, and it is said that in some cases the parents killed their own son. Because of this, the president passed a law in the 1920s by which the 7th son of a family automatically receives the godfathership of the president of Argentina! Through this, the state gives him a gold medal on the day of his baptism (when the president officially becomes his godfather) and a scholarship for all of his studies until his 21st birthday. Supposedly, this ended the phenomenon of people condemning their children for fear of the werewolf. The law is still in effect, and it is popularly known, and the presidents have always attended at least some of the baptisms, especially during election season.
Werewolf scholarships. Not to be confused with the Chewbacca Defense.
Looks like this urban legend made its way around the internet and back. Unfortunately, (fortunately?) it seems the godfather tradition has nothing to do with werewolves.