I do not have much experience in scholarship essay, but here are my suggestions which I think should be there.
Since my high school days [...] Business School totally meets my expectations.
Rather than telling that you have the interest since childhood, tell an example or your achievements that will automatically show about your interest. It would be better if you can mention your expectations from the university. Telling that university meets my expectations, does not tell about you anything
(The reason for your scholarship, I don't think goes correct here. Having ordinary family is not the word, everyone is ordinary. In my opinion, you need to find a better reason: may be you want to pursue on your own without any financial burden on family. Do not say about family, tell about you.
Hope this helps. Good luck :)
I completely understand the requirements, but firstly you need to change your content, then only we can work on the length of essay. Tell bout your accomplishment or may be just one major accomplishment in your life and your career goal related to it.
Hope this helps.