Hey Joseph,
What an awesome way to celebrate the end of your senior year! I'm sure you'll have a blast.
The short answer to your question is: Yes!
Here's the long answer:
When you check-in to your hotel, you'll need to have a credit card on file. Room keys will then be created for each of the guests listed on your reservation and you'll be given the option to allow for room charging privileges. While I've never tried this personally, I've heard that there's even a way that the cast members can place different charging limits on each room key.
At any point during your stay, you can always stop by the front desk at your hotel and ask for an itemized printout of the charges, by card, that have been made to your room. If you're trying to watch your spending, that'll be a smart move (especially if one of your friends loses control and blows your budget after going on a turkey leg eating binge).
Here's a little tip from your buddy Derek:
Another non-cash option to consider is the
Disney Gift Card. That's an easy way to have your friends and family help out with the cost of your trip if they're looking for ideas for graduation presents. You can purchase them online, but I've also seen them in stores that have huge gift card displays.
If you go that route, you can reload your card at anytime and also check your balances and transaction history online or on the free Disney Gift Card App.
I hope that helps! Feel free to write back if you should have any additional questions and I'll be happy to help in any way that I can.
Best regards,
Derek