Hamberg born Schlupp, 19 is likely to be forced down the pecking order at the Walkers Stadium following the arrival of Jamie Vardy from Fleetwood Town earlier this month and after recovering from surgery has the managers blessing to leave on a temporary basis.
However United face competition from Charlton Athletic, Crystal Palace and Watford in his signature, but the Blades could be ahead of the queue with Foxes manager Nigel Pearson wishing to send him away from any potential promotion rivals.