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First, if it's a Fender Squier then it will have a standard floating style trem.The problem will be the ball end of the string is jammed. If you use the broken string and bend it (much easier if it unwound) you can make a little hook, loop it through the ball end and pull it out. It will be coming out of the back of the guitar. If you take the trem cavity cover (back plastick plate) off it will make the process 1000 times easier.
If you have any more hassles I can show you some pics