Maxpedition makes good products that will last through hard use. Also, most of their models (including the one you posted) have a concealed carry section with a velcro patch to attach a holster. They have a hook & loop holster, but I prefer the 5.11 holster. I have a Jumbo Versipack with a 5.11 holster and my SIG P220 fits in it just great. I'm actually considering getting the operator version of the bag that you posted also. It's not like college age people are going to be looking at your bag to check if there's a gun in there. I'm a big fan of Maxpedition products, so I say go for it.
Anti-gunners are not going to be looking at your bag and thinking there's a gun inside. And if they do, screw them. How are they gonna prove it? Unless they carry a metal detecting wand around with them, they have no proof. And if for some strange reason they do carry one, well, it's just your iPod or your Surefire setting off the wand.
ETA: I'm a college student also, and the few times I've taken my Versipack on campus (yeah, I had to use my manbag a couple times
), I never got a second look from anybody. Carry yourself with polite confidence and nobody's gonna question you.