Mark Wagh hit a second innings 46 as Nottinghamshire set Oxford MCCU a victory target of 452 at The Parks.
Ali Brown and Adam Voges were down to bat at ten and eleven as Nottinghamshire's batsmen elected to take the opportunity to maximise their competitive practice after the duo made first innings centuries.
Wagh's 46 included 8 fours although Franks and Hales registered single figures once again.
Run-a-ball twenties from Chris Read and Samit Patel allowed Notts to declare their second innings at 170-8.
Resuming on 29-1, Oxford MCCU had posted 296 all out as Luke Fletcher finished with 4-29 backed up by Paul Franks (2-42) and Andy Carter (2-37).
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