In 2004 (the year my son accepted an appointment to USNA) - the stated ‘value’ of the ‘scholarship’ (and it really isn’t a ‘scholarship’) was $400,000.
As a Blue and Gold Officer for USNA, I tell candidates that I interview for their application to USNA that the typical ‘regular’ scholarship comes with no follow-on obligation, but Service Academies and ROTC ‘scholarships’ have a follow-on obligation to serve in the military, hence it is something that is earned both in the past (for having a good record worthy of being selected), and will be paid for in the future...usually for a minimum of 5 years service.
An appointment to Annapolis was something that I had worked for since I started 7th grade. It was a great feeling just being there, for all of the blood, sweat, and tears that the whole experience involved.