I don't think his hearing can be too good, it is probably just on the upper side of what we accept as normal. Also good hearing can not make you more distracted, probably rather the other way around. The fact that his hearing is normal is wonderful, the problem could then rather be with his listening skills, attention, concentration or processing of sound.
I don't know what type of tests you have had done already but it is important that the four things that i mentioned be evaluated in detail, so that one can decide on treatment. You need to have a full evaluation with an Audiologist and with a Speech Language Pathologist, to determine his listening and processing ability. I will gladly refer you to the right people, just write to me at email@example.com and let me know in which area you would need a professional.
The rest of your question was about his academic performance and yes listening skills, attention, concentration and processing of sound can affect your academic performance, but it is important to find out which ones need to be dealt with.
Please feel free to let me know if you have any further questions or if you need a referral
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