He dumped me in a time of distress, but always pulls me back. Do I stay around to help him or ignore?

I've been on and off with a guy for a year now. He's a very religious guy, so I'll just throw it out there now that physical connections are not really a factor in this. He is emotionally very stressed right now in grad school. He is not doing well academically, and he fears that he has chosen the wrong career path (thus wasting all of these years). He says that he can't have a relationship right now because he doesn't have his life figured out, and he doesn't want to hurt me by pulling me along. He also said that he wants to stay friends, and me not being his friend will hurt him even worse - potentially pushing him out of grad school completely. He tells me that I'm the only thing that makes him happy enough to stay around right now. It seems that every time I start to distance myself, he pulls me back. I'll try to ignore his texts, but then he will send multiple. We will eventually see each other in person, and he will hug me or hold my hand. However, the moment I reciprocate any affection or express my feelings for him, he pulls away and says he doesn't want to hurt me. I communicated to him that being platonic friends may just be too heartbreaking for me, but then he breaks down crying and says he needs me. What do I do? He says that I'm the only one he really talks to about his stresses. I don't want to leave him without support, but I'm not sure if I can play these mind games. He has a history of being disconnected in his relationships, and I don't know if guys are genuinely this distraught about their life choices or if he just has commitment issues. I guess I don't understand why he doesn't want me in his life during these stressful times (to help him and make him happier). I think I could help (and he says I do), but he doesn't want to put this hurt on me as well. Ps - I realize he may be depressed. I have suggested that he talks to others, but he doesn't want to.
He dumped me in a time of distress, but always pulls me back. Do I stay around to help him or ignore?
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