Experience isn't recent, but I was an Army ROTC scholarship student back in the 1980s.
They paid my tuition and books and provided a $100/month stipend. I had to come up with living expenses. Went to a 6 week camp at Ft Riley the summer between my Jr and Sr year.
Commissioned as an officer. I served 4 years active duty and 4 years IRR (Individual Ready Reserve.)
It was a good experience for me. At that time, there were no caps on tuition. Today, I believe the scholarships are capped.
If you don't take a scholarship right away, you can try ROTC with no commitment the first two years, IIRC. I believe once you take a scholarship and/or continue the program in your Junior year, you incur some commitment.
So the good is you can try it for the first two years without commitment as long as you don't take a scholarship. If you take the scholarship or continue on in your Junior year, you owe at least three years.