If it were me, and it was some 7 years ago, I'd go at it as maturely as you can. Don't tell them and let your emotions get away from you, as I'm sure you'll get enough of that from them. Make a plan, make it the best plan you can and have it ready for when you tell them. I.e plan for money and or job, school if it still applies, fob status, living arrangements hopes etc. Come to them like you've logically thought it all over the best you can and have decided to keep the baby. It didn't go well for me when all I had was "I want to keep the baby" was all I had to offer in that conversation with my parents.
Present a united front if you can with fob, if it's not it may not go well trying to sell your ability to do it solo as parents may think you'll depend solely on them. Be honest though, as open as you can full disclosure. Rip the bandage sort of speak, don't have details come up later that might interfere with any peace that may come in the days weeks or months to follow.
This is all just my opinion if it were me and I had a do over. There is the chance your parents won't flip out like mine. Be strong, you can do it and it may suck but in the end you'd rather have them on your side then not. Good luck hun xox.