First question, do you have the cash to help bring this mare to foal? From breeding soundness exams to pre and post natal check ups, shots, vet bills etc? What will happen if you cant keep baby? You say you will be going off to college soon, that really dosen't make for much time with the little one, and your mare.
My 2 cents if you want the experiance of a foal, is to save one from auction. If horse prices in your area are any thing like what they are around here, the price of a weaner or even yearling is much cheaper than what it would cost to breed and keep your mare. Also what are her marketable skills, you say she's hot, and a lot of the time breeding dosen't help to cool that off. Is she registered? Not to say that's a do or die thing to breed, but an unregisterable baby has a poorer market value in the long run than one with papers, even though you cant ride papers.
Just my 2 cents, adopt, or rescue a baby from auction!