Two PA Tickets. Help please!

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Today I jstu got two tickets I NEVER thought i'd ever get. ME and a friend were at a stop light and when the light went green we both took off. Well he spun his tires and I didn't. Me and him were just dicking around until we reached the speed limit. Well we went ten feet and a cop in oncoming traffic pulls right out in front of us. We were very pleasent and the cop was not mean at all. He gave us two tickets. One was a careless driving ticket and the other was street racing on a highway. We are not sure what he saw. He never mentioned racing, we just answered we were just being stupid kids. I just think he heard tires sqeeeling so he pulled out. I need all the help I can get in this case. I have never had a ticket and have never been in trouble with the law and never want to be. What should I do? The careless was a $25 ticket, but after everything else it was $75. The racing one was a 200, but like 280 after everythign was added. I need to know what I can do and if I should get a lawyer. Last thing I need is to not be able to drive to school and work as I am a college student. Not to mention that I live at home and will get my ass beat big time when my dad finds out! The cop never said anything about our licenses getting taken away. Anyone with any helpful information please send me a pm or reply here! Thanks