Wow, this address a major problem I have. I have decent hearing, but when I'm in a noisy environment like a bar, I can hear but can't understand what other people are saying. It's why I don't like going to bars/pubs with live performances or ambient music. People think I'm bored or brooding because I'm not talking to anyone, but I just can't understand anything anyone says, so I can't participate in a conversation.
Have yourself tested! The quality of life improvement from a set of hearing aids is incredible!
edit: I was 31 when I was diagnosed, so don't think because you're young that you're immune. Generally hearing loss is very gradual so you don't really notice it. If you frequently have to ask people to repeat themselves though...