Petty Theft

I live in california and ive just recently been arrested for petty theft under $50. I am 17 a good student with 3.9 gpa and this was a first timer. My question is what kind of charges do i face and more importantly will this record affect my ability to get into more prominent colleges. Ive read that after im 18 my record gets cleared but college applications are coming up and i dont know if they will look upon this. Thanks in advance
-Mike

First of all, you may not be convicted here.

However, if you are, petty theft is not a felony, and I believe that college applications usually don't ask about misdemeanor convictions.

Someone correct me if I'm wrong about this....

May I suggest that next time you think about that BEFORE you steal something?