Welcome Kevin. Don't panic or get too depressed. Bad emotions are not good for T. So try to keep calm because many people do get better after some time and they write their success stories on TT. You can read over them to know that it is quite possible you will be among those getting better over time. Young people generally can heal and adapt better and their young bodies may be able to recover faster. But first of all, can you describe what caused your T and whether you have seen any doctor(s) or ENTs about your condition? Have you done any masking? Also are your parents and loved ones informed about your condition and are you getting support from them? We just need to know more about your condition to advise you. Here is a good TT thread containing step-by-step guideline for new sufferers and it also has a link to an audio player with many masking sounds. Masking can help you not so anxious about T.
For your sleep problems, have you tried masking it with white noise? You can download app on your phone which play a variety of tones. Different sounds work for different people, some people like white or pink noise, some find crickets or rain sounds help them. If you have tinnitus in one ear, people really like to use speaker pillows to help this. If your tinnirus is in both ears you could try masking it with soe sleepphones (you can get them on amazon) http://www.bwone.com/wp-content/uploads/2010/07/sleepphones_review3.jpg
Are you doing anything to keep your depression away? Tinnitus is notorious for putting people in depression. This sound alone can do that. If you have hobbies and interests that can take your mind off of it a little, you should find that you feel a bit better about it. It's not easy, but some people with tinnitus need to focus on being very busy, rather than allowing yourself to be in situations that let you think about tinnitus more.