Optionally, you can also have birth and not even keep the child. So yeah, no reason to not have to dedicate your life to raising the child either way
It surely is another option, especially if you have personal believes regarding the medical procedures for abortions. However, just a reminder that, going through with the whole pregnancy to then give birth and not keep the baby is also a very traumatic experience. Pregnancies are hard on the mind and the body, so again if you're very immature and not in a good place mentally, you're still risking to develop postpartum depression. Not to mention that you're still setting up the child for an unsure quality of life.
So yeah imo it's another equally hard decision to take, it depends really on your (general "you" not "you" as in Ilays wife) personal believes of what is an abortion.
You're still in college, you and the other conceiver are not in a good and stable relationship, you're not rich o higher middle class, you're still very immature and not in a good state of mind currently; you might give the child a good enough life if you completely dedicate your life to them and you're lucky, but that's not a given, and you're still giving up the life you're building up to.
Like I understand that abortion is a traumatic experience, but c'mon...