90s Vintage Dress for Graduation

I thrifted this gorgeous dress with shoulder pads for only $5 when on the hunt for a university graduation dress for the spring. Tradition is a short white dress, but I usually like to be different and thought this was too unique to pass up. Is it too business-y for graduation? Are there ways I can dress it up? The gingham is also navy (which is my gown color) and I plan to pair it with navy heels.