My name is Jacob Christopher Wright, and I feel that I am more than qualified for this scholarship
Well, I find this sounds a bit too rough .... it gives the reader a feeling that you are a bit high minded. Rather than saying that you are over qualified for the scholarship, you could have said ;
Based on my background, credentials, proven track records and skills, I believe I am a potential candidate for this scholarship.Well, here you only express that you need the scholarship, but it does not really justify why you deserve this scholarship
Pahan's got a good point there. Hope you pay attention to that and redo this writing.