Ahoy, Hilary!
While a last minute restricted rate is usually a great deal, it does not typically apply for a family of five who all want to be in one room. However, if you are flexible, you might be able to still get an amazing deal on a Disney Cruise Line vacation!
For example, right now there is a sailing at the end of May that has a VGT (Verandah Guarantee) rate. If I price the cruise out on the website with the entire family in the same room, the rate does not come in at the VGT. If you split the family into two rooms, you would actually save around $1400 over the one room price. The only issue is that Disney Cruise Line will not be able to guarantee that your rooms will be near each other.
There is another sailing at the beginning of May that has an IGT (Inside Guarantee) rate. A family of five would save over $3000 by splitting into two rooms. Again, you are not guaranteed to get rooms near each other, but that is a huge savings!
So, my advice is to play with the Disney Cruise Line
website. Plug in your family in different configurations until you find the rate that you are happy with. Maybe there are grandparents who would like to cruise with you and then you could book one child in their room at a Guarantee rate.
I hope this helps with your cruise planning. Thank you for visiting the Disney Parks Moms Panel with your question! I hope to see you again real soon!
Happy Cruising, Tracy V.