Scholarship / "Being modest or not" - Why Do I deserve this scholarship more than anyone else? [5]

Hiiii!
I have to write an essay of 500 characters for a scholarship.
The question is - Why do you deserve this scholarship more than anyone else?
People...Should I outrightly say in my note that I deserve it more than anyone else or be a little modest?
Any other views,ideas and suggestions are most awaited.
Please reply as soon as possible because I've got very less time.
Thank you.