Is it normal? i mean what's happening between me and a teacher?

I'm an 18 year old student who's not sure what's going on between her and her 27 year old teacher who at first she only sees as one of her best friends and a pesky older brother ( he's quite a man-child. ).
You see we we're pretty close, we would often tease each other, call each other names, he would often start play fights with me which always end up with the two of us running around the campus like 6 yrs. old, tells me about his day, trusts me so much that he always comes up to me whenever he had problems and he would chat and text me up non-stop.
For me it was normal,but I found it weird when he started asking me out, like the two of us go jogging and go grab a bite after, him constantly asking if he could drop by at my house and just hang out ( of course with my parents present. ), of course I totally kept on refusing.
Not to mention some students were making remarks like, if they didn't know that he's a teacher and I'm a student they'd totally think that we're dating! And to top it off they find the two of us adorable!
I decided after those encounters and these quite confusing feelings that I'm already starting to feel that I should avoid him. I did, I deleted his number, got myself a new number and told my friends not to give it to him. I stopped talking to him, even when he would persistently approach me and I would just leave silently he even kept on asking my friends if there is something wrong with me. I would totally ignore but he'll still try and whenever I wouldn't talk to him he would go away looking like an abused puppy of some sort.
That continued for a month, he would still try and approach me I would still ignore him so he talks with my friends instead. But he would still try to sit near me.
After that I began missing him and I'm pretty certain that I already have feelings for him, 'cause there was this time that I absentmindedly sketched his face with no reference photo whatsoever and one of my friends saw it and he totally recognize him right away he even show it to the rest of the gang and they all recognize that it was him.
Now that I was certain on how I feel for him I wanted to know if he was feeling the same for me too. And unexpectedly I kinda got the hint that I was looking for, well after I started ignoring him I spent most of my time with another teacher, my editor. My editor who was also romantically linked with me last year, I was quite close with teachers even when I was in my previous school. You see, I was a writer for our university's gazette. There was this time that I was with him inside the faculty editing our month's issue when he showed up and kept on talking with my editor and when he ran out of words to say he kept on tickling me but I still chose to ignore him so he just went out. After that I got out to get a drink when a friend of mine asked me what happened, I was puzzled when he suddenly pointed to him, he looked so down and pissed.
A lot of things happened after that but, I'm going for the main event. At our graduation ball he asked me for a dance, I couldn't turn him down there were a lot of other students and faculty members looking at us. While we were dancing he suddenly blurted out that I looked beautiful, he was always calling me cute but this night it was different, not only did he called me beautiful but he seem to be a bit shy, I mean he was never shy around me! He just kept staring at me until the dance finished. And when the DJ started playing club songs and everyone was dancing he didn't go far from me, he was always close as possible. Then on one instance my friend nudged me and told that he was still staring at me.

I've been courted by older guys before, guys in their 20's and 30's but I just shrugged them all of but, he's different.

So what do you think guys? What should I do? HELP?

P.S Mom's totally cool with him and I'm graduating from college next week. :)