Seriously love, are you for real?
This is not a good idea at all. Have you thought about the kid? You live with his parents so you are unable to provide a decent home (Strike 1). You want to get a job and go to college whilst looking after a baby (Strike 2). Your boyfriend is a nonce by shacking up with a child himself (Strike 3, you're outta here!)
PS That wasn't a rant at people who have found themselves in the situations above, but more of a question. Would you have deliberatly put yourself into them?
Let this child see how much hard work and effort goes into having a baby, it's not just coffee with mates and the occaisional dirty nappy. It's sleepless nights 'cos she's teething, it's fishing toast out of the brand new dvd player, it's using the last few pennies in your pocket and going hungry just to make sure little'un gets the birthday present she's been after, it's sleeping on a concrete floor in a hospital family room co the nurses haven't got a spare bed for you to crash in whilst your daughter is in there. It's all these things and so much more.
And the hardest part, the most difficult thing is, you can't walk away. You can't just say "screw it, i've had enough. I quit" This is the ultimate job for life.
Get over yourself, grow up, and when you're ready to have children you'll know. (Mainly cos you won't be asking a bunch of strangers "is it alright if my pedo boyf gets me up the duff?")