After researching i found that there are a lot of ways to fix it, depending on what causes the error. The error basically means that there is something wrong with your permissions dealing with installing 3rd party software. For me, for some reason i had the SYSTEM user denied all permissions on my user folder, which is where the installer for Office is temporarily stored. I simply changed the permission for SYSTEM in my user folder for full control, and it was fine.
Other people have had to restart the windows installer service, and I also read that some people had to allow the SYSTEM full control of permissions in the C:\Windows\installer folder. I even read that error 2203 can be caused by a corrupt registry or even a virus.
Windows sucks.