2001 Saturn L300-No power steering

2001 Saturn L300 83,000 miles V6. Last night, after leaving work, my Saturn started squealing very loud everytime I came to a stop and accelerated again. This morning, I drove the car about 1/4 mile to my daughters' school and it squealed the entire way...on my way home, the power steering completely went out and I smelled something burning. I have had it parked since, as I'm too afraid to drive it to the mechanic until I know it's not going to catch on fire.

Any ideas? Thanks.