Serious problem .. please help?

Ok i will not take your much time i will tell you my story in short, I am in love this guy who is my neighbor and also 2 yrs younger than me. I am 22 & he's 20. He's pursuing his graduation and i am working as well as doing my MBA 2nd sem. Our parents are aware about our relationship. My mother is not agree with this relationship so do his.This guy loves me alot, i don't think i could ever have a guy like him, he cares for me like anything he do every possible extraordinary things just to see my smiling or in short i would say he is crazy about me.He says he's breathing for me and i am the only reason for his survival. But yesterday his mom came to my place and had a conversation with my mum. She put all the blame on me and said that his son is a kid and he doesn't give his salary at home and they don't know where he's spending his money and all that bla bla for which he fought wd his mom and made her realize her mistake. After all this incident my mother actually told me to break off my all relationship with this guy, but i really love him like anything that at this point of time i just can't leave him. Because i knw if i would leave him he will die. I know this thing because he has tried it before as well. Now i am totally confused should i continue my relationship with this guy.I am working 22 yrs old he just doing his graduation, thye dnt even have their own home.But this guy loves me alot he never made me felt that there is something missing in our relationship. I think he's my that missing rib to whom i was finding like since long.My situation is very pathetic and i really need to know what should i do... I am totally pissed off with this as even yesterday only i have decided to cut off from him but he cried for whole nigh till morning and keep on saying the same that i need you in my life and i cant live wdout u please don't go, he was continuous saying these words.. Now what should i do please gv me ur true suggestions....Thanks in advance...