Monday’s transfer deadline passed without the midfielder either securing a return to parent club Liverpool, or alteration to the clause which stipulates Villa must buy him permanently for £35million once he makes 10 appearances.
Elliott is just three appearances away from triggering the clause having featured in Villa’s last two matches, following an absence of nearly four months.
The 22-year-old’s sudden return to the fold had sparked hope an agreement to change the terms of his loan deal was close, yet on Monday evening Villa sources insisted the 10-match clause remains in place.
Liverpool have long made clear they had no interest in recalling Elliott, who cannot play for another club in Europe this season due to having also appeared for the Reds in the Premier League.
Villa, meanwhile, did not want to pay a termination fee to end his loan at the midway point of the campaign.
Elliott, who joined Villa with the aim of targeting a place in this summer’s World Cup squad, continued to train with the first-team throughout his exile and has impressed club staff with his positive attitude, despite the unfortunate circumstances.
Former Villa boss Dean Smith, now in charge of Charlotte FC, was prepared to offer Elliott a possible escape route to the MLS but that is not thought to have been of interest to the player.
Villa’s deadline day business centred around the outgoing of fringe and youth players.
Winger Ben Broggio joined Falkirk on loan, while full-back Kosta Nedeljkovic was finalising a loan switch to Fiorentina late on Monday.
Kadan Young joined Reading, while Louie Barry joined Stockport County for a third loan stint with the League One club.