Curious1 has a great answer. Parenting is scary at any age. You have a little time to get ready, so use it well.
Try reading, or at least skimming "What to Expect for Infants" and Toddlers.
Get your money situation as stable as possible. If you are in college, stay there. It will improve your life later on.
Try your best to build a family support network, her parents, yours, aunts, cousins etc. The more support you have the better for you and the child.
If you both prepare and take this very seriously then you can be very good parents. If you both decide to give the baby up for adoption, there are many options and you may be able to choose the adoptive parents.
No matter what you choose, your life is already more complicated. Take your time and good luck to all of you.