Well technically, the scholarship is for minorities, and technically Middle Eastern counts as Caucasian (something that never quite made sense to me). Still, if you really want to give it a shot, especially with an income that low, I suggest calling them.
Edit: I just checked the website and looked under the FAQs, and they count the far east under Asian, so you should be good
http://www.gmsp.org/publicweb/faq.aspxP