When my girlfriend (now wife
) and I first went to college we had a similar thing. Mainly, all I knew was her and I was unsure if I was missing something. We did talk about a break. Quite a bit. but when it came down to it, neither of us REALLY wanted it. Make sure you talk about it a lot before the decision is made. If she is serious though, you have to try the break. You don't really have a choice then. Either you try it and hopefully she can work things out, or she will resent you for holding her down and eventually you will break up for good...or at least be dreadfully unhappy.
Best of luck in all this