I can't help you in regards to the bass you want to purchase (never played a five string, and I don't desire to), so I'll discuss other matters instead:
1) DO NOT purchase a $3000 bass if you don't have a steady job; it's a recipe for disaster, and IMO you can get a decent bass for less than that (again, I've never played a five string, but $3000 typically buys good instruments).
2) Don't go to an institute that gives you "certification," in music, or whatever it was this institute was going to give you; I got certified in CPR/First Aid my freshman year, that doesn't mean I'm a doctor.
3) Don't put all your eggs in one basket. I'm 17 as well, and starting to look at colleges (I'm still a junior, but I'd like to have a plan), but I'm not looking to get a degree in music. I love playing bass/guitar/piano and writing songs, and I have basic composition knowledge, but I don't necessarily want music to be my career. Music is a hobby for the majority of the population (albeit a paid hobby for some), and I'm extremely jealous of the minority that can make a living off of it. If I got lucky and landed a record deal that'd be sweet, but the chances of that happening are slim to none. My advice would to be to have a backup plan in case things don't work out for the best.
As said above, no school can promise you'll be the next Geddy or Jaco or Flea or whatever; no school can promise you'll be a successful musician. I respect your goals, but my advice would be to get a degree that secures you a job, play gigs for fun on the weekends, and hope you get lucky with a record deal. Practice your technique/songwriting skills/etc. too.