Thank god you are not doing poetry. otherwise you would be really screwed!
but your doing the lovely short story medium. Have confidence in youself. It is possible! Don't give up. I do strongly recommend giving up the course IF you have not recieved good marks for all you ee2 assessments throughout the year. Logically, you couldn't have gotten good marks, because you haven't started your actual major work! And they are all about the major work process! And, also if you have more than 10 units.
Otherwise, start RIGHT NOW!
actually when i read your post, i thought it was a joke. Honestly a joke! MAybe you posted it for your entertainment or something, but regardless if it is true, then the best of luck to you.
Anything is possible. If you aim to complete an 8000 word story then write 1000 words each day, spend about 2-3 hours doing this, starting form today! 1000 words is not that much (think of a typical english essay) and because you must have at least an idea, plot, storyline, and some sort of talent with writing.
This means 8000 words will be completed by next Sunday. Which then means you have a couple of days to draft, fix, and edit it. Give it out to many people so that you don't waste time looking for little mistakes.
Don't ever ignore grammar mistakes. It should be utterly immaculate, unless it is there for a purpose (read the rs for 'tea and tempests' in the 05 showcase).
Good luck.