Publication 970 (2013), tax benefits education, Feature description; maximum benefit : you can reduce your income subject to tax by up to $2,500. loan qualifications : your student loan: •must have been taken out. Claim uk tax rebate , Claim the maximum possible tax rebate - direct deposit into your bank account. Personal tax rebate ( ya 2013) - iras: home, For the year of assessment 2013, all tax residents will receive an income tax rebate of up to $1,500. you do not need to apply for this rebate as iras will compute.