Nooooo, no quite that long ago ...
But it was long enough ago [Class of '76], that my memory may be playing games with me. It may very well have been "$200,000" and not "$20,000" ...
...but that still is sure a lot of nickels ...
Okay...you got commissioned 1 year after I was commissioned. I served in Submarines - and my ‘running mates’ were USNA Class of 1975...and I recall them saying something similar about a $150K scholarship, but it was quarters shoved up their butts...not nickels.