You say that your not asexual because you still masturbate, but that doesn't mean you aren't.

If you ultimately would rather have a relationship with someone who wouldn't expect sex from you, great. If you are willing to date a sexual and have sex for them, great. There are asexual individuals who have sex for their partners and they derive no pleasure from the act. Its a compromise for them.

If you tell your college friends you are asexual they may joke that you don't know until you try it. All you have to say is that it is your preference and they will most likely drop it. (If they don't, they are crappy friends.)

Teen something (I forgot the sn) is in a platonic relationship on forum that includes cuddling and some petting. He doesn't want to have sex but enjoys being close to another individual. Perhaps this would work for you, too?