Yes, Adobe Premiere is a video editing suite.
t5 - if you are a college student, you might want to check with the computer labs at your school. It is entirely possible that they have the entire Adobe CS installed and that as a student you would have free access to those programs. If so, your school library probably has a copy of Adobe Photoshop Classroom In a Book or something similar. All of a sudden, if you have the desire, you will have a free path to professional-level photo editing software.
Good luck.