First, under MCL 750.356, third degree retail fraud (retail fraud under $200) is a misdemeanor and a conviction on this charge carries with it the possibility of up to 93 days in jail and/or up to a $500 fine (or 3x the value of the merchandise), and civil penalties. Civil penalties sought by the retailer can include the full retail price of the item or the return of the item in its original condition, and damages up to 10x the retail price (not to exceed $200).
The Holmes Youthful Trainee Act is a diversion program offered to individuals between the ages of 17 and 21. Whether an individual is placed in this program or not is at the discretion of the judge. The program allows for probation and, with a successful completion of the probationary program, charges will be dismissed without a conviction, leaving you without a criminal record.
For HYTA, you must ask the court to grant you an HYTA status and the court will consider whether to assign you to this program or not. In order to be eligible for the program, you must plead guilty, but you should NOT plead guilty until you have spoken with an attorney. You can call the court or request at your first court appearance either time to get an attorney, or you can request that an attorney be appointed to you for sentencing. Because there are significant differences between counties, courts and judges in Michigan, having an attorney with you can give you the best odds of having your request granted.
I STRONGLY recommend you contact an attorney, as having a misdemeanor on your record can affect all areas of your life - from employment, to travel, to qualifying for loans or financial aid.