Question about "breaking up" (I'm in a difficult situation)?

I love my boyfriend more than anything and have been with him for 1 and 1/2 years. He is 18 and I'm 20. We love each other and never fight and have a lot in common. However, we have not been practicing premarital abstinence, and my parents and religious leaders have found out. I have been told to break up with him if I wish to still be financially supported through college and keep my church membership. I am utterly devastated. There is no way I can make it through college if my parents withdraw all outside support. I also am religiously active and don't want to forfeit church things. Any advice on what to say to him, on how to tell him without actually breaking up? I want him to know my feelings haven't changed. Even though we're young, I know he's the one I will always love the most and want to spend forever with....Please help me on how to handle this!