<human>: Give me the gist of the text in a nutshell

Hey, a little bit about me I guess. I spent my first two years of school going to my local community college. I managed pretty good grades (at least one or two As every semester with the rest Bs and a rare C) and I really enjoyed my experience there. I learned a lot and was able to work 20 hours a week at my local grocery store, hang with my friends, and keep up in a busy alternative rock band. Now, I'm a junior in college and spending my first semester away from home at university. Being a secluded individual most of my life and having little time to party in community college I have thoroughly embraced college by spending every second hanging out with friends and getting to know anyone I can. Well I've got a term paper due at 10 o'clock today which is not nearly finished and is worth 60% of my grade. My professor has already told the class that he will refuse extensions. Its also way to late to drop or withdraw from the course. Personally I hate failure but I also can not stand disappointing other people so its going to be hard telling my parents. Oh, and my GPA is currently at 0 because of my transfer so this will really screw things up.
<bot>: failing and I need to tell my parents. Is there anyway I can do this and still have them believe i am responsible and capable in college.