Coping with it is hard but don't give up, your mother needs you. People with schizophrenia when they come to accept they have it it often takes them a long time to feel ok, they tend to feel like you do now. It is hard on anyone in the situation friends families and the person suffering from it.
There is a reason they are your parents, I am sure when they decided to have you they were wanting a baby so badly, they did not give you up and even though they knew the situation was tough they still kept you.
Finding out now is pretty tough, but they left it until now for a good reason, I am schizophrenic and me and my fiancee have discussed having children a lot but we never know what we would do, would be tell them when they were young? how would we explain it? Would I want my children to have to grow up knowing their mother is "crazy" or would I try and let them have as normal as a life as possible so I do not take away their child hood?
It may be hard on you but them leaving it till now was probably the best decision even if you may feel like they should have told you sooner. Your mother had you for a reason and you are still her child after all this time, she has done her very best to raise you right by the sounds of it so do not give up. It may be hard on you but she has lived with a very hard thing her whole life, something people claim to be the worst mental illness there is.
If she could make it through all these years, having a child and raising it (which is something that not many people with schizophrenics can do well) then she is a strong woman, if she could get through all that then you can get through this.
Just love her, she is still your mother, she is still the same person you've known all these years try to make it through for her, I am sure she needs you.
I am currently reading a true story about a man who's father was schizophrenic and after time after his parents divorced his father had things very tough, he even became homeless for the majority of his life but his son told him he was cutting off connections with his father as he said he couldn't live in his world. The man in the book mentioned that after his father died of a heart attack and began finding out all he could about his father after he lost connection with him all these years later this man still loved his son. He told strangers about him as if he were his pride and joy but when his son cut off connections that was the mans last line that held him together and the son realised this all too late.
Your mother is your mother no matter what, I am sure she loves you, talk to a therapist it will take some time to adjust to this and to cope with it, it takes everyone some time but she was brave enough to have you and love you, help her through something which is terrifying for her.