Let me put the Old Man Hat on. There.
Ah.
The main consideration here is are you both ready? Forgive me if this sounds heartless but love will only take you so far. Eventually, the passion'll die off, trust me, and there'd better be a solid emotional filler to fall back on. Friendship is the best one that I've found. It sounds to me that you just met a few months ago and I think that's too soon to figure out if it's true or not. You say you two never argue but I and my lady love didn't argue for two years, which finally ended after a discussion as she refers to it, on her brother, who is an idiot (but we still love him). It's not a relationship until you yell/scream at each other, throw a textbook (and not one of those sissy paperback ones either) at his head and he puts his fist through the wall. How you deal with it will show whether or not you two can be with each other until one of you kicks the can. Because if you two "sign the pact" you will definitely get into fights, guaranteed. If you can't bring them to a reasonable conclusion/compromise you'll both be miserable.
Now on to the nuts and bolts. First, do you have a steady paycheck/paychecks from a secure job? Marriage, in my experience, puts a hole in your wallet big enough to sail the HMS Ark Royal through with enough room left over for the HMCS Halifax. Debts/bills, how many of them are there/will there be and are your combined incomes enough to keep you afloat or at least treading water while dealing with necessities like taxes, cable, telephone, electricity, gas, insurance, heating, food, internet, water? Next it sounds like the two of you are wading through the pit fight otherwise known as "college", in addition to tuition, should something unforeseen happen (like that ultimate STD known as pregnancy) are one or both of you willing to put your education on hold for the next three years at least (though more likely permanently)? Housing, are you two safely ensconced in a place from which you will neither be kicked out nor have to move for any given reason i.e. to get a better job? Should you lose that house, can you reasonably expect to afford a new dwelling or are the two of you willing to move back in with each other's parents?
Finally, the big one. Are you both willing to make massive and possibly up until now inconceivable changes in nearly every aspect of your lifestyles? Example: when I was single I lived in a basement surrounded by empty coffee cups, beer bottles from the weekly 24 and Styrofoam containers with remnants of take out. Now I have an apartment in a nice neighbourhood, drink tea, have cut my beer consumption to a pint a week, haven't been to a take out place in years and dust every week. I used to be able to sit around on my stained with God knows what/beat up old futon in my underwear and watch six hours of Star Trek a day. Now I have a nice cream coloured couch and only watch one episode of Next Gen (the only one she actually likes enough to watch with me) and American Idol (which I despise but she adores) all the while wearing at the bare minimum shorts and t-shirt (unless of course we're competing in some Couch-lympics, if you get my drift).
If you can answer yes to all those questions then go for it, book the hall, get the bridesmaids, call out for the bachelorette party and let the local hospital+cops know that there'll be several fistfights/brawls after the ceremonies are concluded.
So there you have it. Sorry about being all preachy and windy but it looked like you wanted/needed advice and I didn't want to leave you hanging. In the end though it's all just words and it's up to you to decide if you think they have any relevance. Good luck.
Oh, one last thing, learn whatever his favourite food is and then how to prepare it to perfection. Yes, even if it's haggis. Mmmm, haggis...