I have never heard of a dorm shower before.
Most of the students I know are not from well-off families. In fact, there was a graduating senior from my high school that I connected with last year who had been homeless as a middle schooler. I didn't really have graduation money to give him, but I would have thrown a dorm shower had I known they were a thing.
I will also say that in my community, it is not a given that graduation gifts are for college. I have never heard that before.
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