My wife is a doctor of audiology and I am a "hearing instrument specialist", so I might be able to provide a bit of insight.
Most hearing loss is permanent, as is the bulk of tinnitus. The ear does have some healing capability though, so it's not perfectly fair to say that the OP's recent loss is definitely incurable. It's true that the only effective medical treatment at this point is early steroids, but the OP won't really know what he's stuck with until at least several months have gone by. The tinnitus, in particular, can very possibly improve over the next few months.
As for the treatment of established tinnitus, there isn't any, at least not in the form of a pill or surgery. We're still stuck with A) counseling -- which essentially amounts to training the sufferer to pay it no mind -- and B) masking agents, which can be as simple as running a fan or white noise generator at night, or as complex as hearing aids or in-ear white noise generators. These treatments meet with mixed results -- some people can indeed manage or even ignore tinnitus with fair success, and I am one of them. Other people are overwhelmed by it, and there are, in fact, tinnitus-related suicides. So tinnitus can't be covered by a single blanket statement.
Now, if there is a positive side to the OPs case, it is that the bulk of human communication takes place between 500 and 4000 hertz, so a loss that is primarily above 4000 hertz should not be devastating. Unfortunately, the sort of nerve damage that he is suffering can have more insidious effects that just a decrease in perceived volume. "The sound is loud enough, but I still have trouble making out the words" is a common complaint among hearing aid users that suffer from this type (sensorineural) of hearing loss. I explain it to patients as "Think of a cable connecting a computer to a monitor. If the cable is damaged, it doesn't matter how well your monitor is working: some of the information still isn't going to make it to the screen".
As for the cost of hearing aids, good digital instruments tend to start at about $2500/pair and peak at around $7000/pair. I personally would stay away from analog instruments, even if they are fitted by a licensed professional. They provide an unnatural sound and very limited adjustability. Imagine a laptop that is programmed via screwdriver, and you'll actually have a pretty accurate idea of what analog hearing aids are about. They are cheap, though...
HTH!