@littlek,
Oh, I'm definitely not recommending cochlear implants!! Just noting that it's annoying that they tend to be covered by insurance while hearing aids tend not to be.
Eva, from people I've talked to and my own experience that's pretty unusual. (Good for your insurance company though!) Perhaps my own experience was ambiguous enough that it didn't fall under the "accident or illness" thing, even though it was rapid onset and did not seem to be genetic. But insurance didn't cover mine (Department of Vocational Rehabilitation paid for 'em, thank you DVR).
Don't be so sure re: the financial aid, littlek... worth checking into anyway. The local DVR (or whatever the acronym is in your state) should be able to give you some resources even if they can't just shell out for the hearing aid (which they might be able to do).