I'm 22 and was told I may have polycystic ovary syndrome (PCOS) -- how will that effect me and is it reversible or treatable for life?

PCOS. If you have PCOS it cannot be eliminated or cured. Overweight women with PCOS can improve cycles and symptoms with weight loss, but many with PCOS are not overweight. Medicines, including but not limited to birth control pills can help, for some women there is a surgical procedure that can be used.