You are.
What you have shown is an enlisted peacoat and an officers overcoat. Two different things. The officers overcoat is also called a bridgecoat. It's a full overcoat that should come down just below the knees and has hard shoulder boards. The peacoat is the same material but much shorter and doesn't have shoulder boards. Officers/mids/OCs are allowed to wear a peacoat but if you have an enlisted version you need to have the black buttons replaced with gold ones. Any tailor near your school that does uniforms on a regular basis will be able to take care of that for you and may be able to tell you where to get the buttons if they don't have them at the shop.
Most guys had peacoats at Oregon State but really only wore them when it got really cold, which wasn't that often. Most of the time the dorky, Ike jacket was just fine. Thank God for the leather flight jacket now. I was sorely tempted to have a SWO jacket burning party when I got mine but then thought better of it.
About the only time you'll wear a bridgecoat is when you're in SDBs and it's balls cold outside. I got mine from a relative as a hand me down. In two years I've worn it once to a funeral where it was 20 degrees outside. I'll probably "get" to wear it some more being stationed in Maine.