| there have been tons of threads on this subject, and i think the consensus is pretty much yeah, you can go over. many people have said they submitted theirs with 750 words, and got accepted. from the commonapp.org FAQ:
The 250-500 word limit is a guideline, and colleges do not count words. They do not mind if it is slightly longer/shorter, and value quality over quantity.
College admissions officers are far more concerned that the essay is well written, proofread (not just spell-checked), well thought-out, etc. Do not get caught up in the “micro” (words, spacing, font size, color of ink). They are looking for the “macro”: does the student write well and what can they learn about this person from his/her essay?
you can search for other threads regarding length to see what else people have said, but I think the bottom line is don't cut "good stuff," just eliminate unnecessary stuff, like changing passive voice to active etc. | 
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