I think its about these two college bound students who fall in love. "Till the night you drove me wild. And you crashed into me" And then when they have to go seperate ways " breathe in deep and say goodbye" it probably signifies those deep breathes you take before you start crying and they don't want to see each other cry making them more depressed. " You're almost gone. You're good as gone. August is over" It pretty much says that they can't do anything about it and school begins again in September and that is the usual time college starts.