Brown ground beef along with olive oil and onion in a large Dutch oven. Drain excess grease.
Stir in the tomato paste, Worcestershire sauce, seasoned salt, and garlic powder.
Mix in the beef broth and then the elbow macaroni. Bring the mixture to a boil, then reduce the heat, cover the pan and simmer for 10-12 minutes until the macaroni is cooked al dente.
Stir in the milk and shredded cheese, continue to simmer over low heat, stirring frequently until the cheese is melted and the sauce is creamy.
5.Remove from heat and let it rest for 5 minutes before serving.