I notice that some people use the term hearing impaired, and other people use the term deaf... is there any special reason for this? Is one term better than the other? Do they mean the same thing, or does one mean something different, like different kinds of hearing loss or something?

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"Hearing Impaired" is considered politically correct by the hearing world, however many Deaf/deaf and hard of hearing people don't really like the term.
Deaf = culturally deaf
deaf = medically deaf
Hard of hearing would most likely be used for someone with a mild to moderately severe hearing loss. Those who are hard of hearing can still call themselves Deaf.
Deaf culture involves their own language (ASL in the USA, different for other countries), art, poetry/literature, history, and so forth. But not everyone identifies as a part of Deaf culture.
See audiogram below for classification of hearing losses on an audiogram.
Any questions feel free to ask.