Medals/Ribbons

I'd have to go back and look, but the medals and badges that I remember seeing were ones that we wore at the academy. BUT, we did not wear US Army officer's rank (cadet Major, etc) Instead we wore a series of "pips" and the highest ranking cadet rank was the "First Captain", who wore a "pip-shield-pip" on his shoulder boards.

It's been a while since I saw the movie, but I did watch it at least once since graduating from the school. The dress uniforms are VF uniforms except with the obvious replacement of the "Bunker Hill" arch on the shoulder, and I recall being told that the school tailor shop handled all of the fittings. As mentioned above, the school didn't use conventional military ranks, and didn't even have a "cadet major", rather we had officer ranks similar to the ROTC and British styles.

As for the medals, those were all pulled from the collection of VFMA medals & insignia, which was probably a better choice than drawing from active military awards since it would seem strange to have a 13-year-old cadet sporting a Medal of Honor or Viet Nam Campaign medal. So the film team chose a few medals that looked pretty knowing they would never need to explain their significance - we just expect to see some medals on the stars of the show.
One interesting goof (of sorts) is found with the two star-shaped medals worn by Timothy Hutton. They are never explained, but the silver one is the Salutatorian Medal, while the gold one is the Valedictorian Medal... 2nd & 1st in the graduating class. While it is possible for someone to receive one when graduating from the Academy and another when graduating from the College, it's not actually possible to wear both and still be a cadet. There may be some other goofs along those lines, but since nearly any cadet can be awarded nearly any medal or award, that's really the only thing they could get wrong... and they did.
Kinda funny really.