How 2 tell my parents my gf is pregnant..?

Im 23, will be 24 in a few months and my gf told me yest shes preg. Went to the doc and its about 4-5 weeks along. We dated for about 3 yrs (06-09) broke up last yr and as of march this yr hooked back up and now shes preg. My parents and fam alwayssss pride me as being the smart one, the one out of their kids that makes the best decisions etc and i even have a college degree but my parents also i do, want me to go back to school and get a masters to get an even better job. Yes i work fulltime and she works fulltime too. Shes 25 and wants this kid and i do too cuz i believe in bein a man but i know ill break my parents in two because they want me to continue school and this may stop that. I know ill bust my *** and go to school and finish and stuff but its just the disappointment im not lookin fwd to with them. I have older siblings and they all didnt do much with their lives so i was always labeled by my dad as the last hope lol how should i tell them? And yes i do plan on being with her cuz i dont want this kid to have a broken home. I was raised with two parents and i want the same for them. How to break the news? Im nervous... Any gud answers are appreciated. Thnx