Premiere Elements is a video editor, not a file converter.
But that said, you can certainly load video from this camcorder into Premiere Elements and then output a DVD of your finished project.
awesome! but now i have another concern. I was reading the requirements information, and it says it requires a 2 Ghz processor. My computer is a dell inspiron 14R with a 4th gen i5 1.6 Ghz processor with 8 GB Ram. Do you know if that would be sufficient? I was really hoping so.
The minimal requirements are for single-core processors, like Pentiums.
Your i5 could be a dual-core or even a quad-core processor -- in which case it would may meet the minimal specs, but could be challenged with some video formats or longer projects.
Your camcorder shoots standard definition MPEG video, so you should be able to edit in with version 12. Although we'd need to know which i5 processor you have and how much RAM, etc., before we could make specific recommendations.
Meantime, Adobe offers a free 30-day trial. It's the best way to test drive the software on your machine.