The 19-year-old midfielder has been training with the first team squad this season but didn’t make the trip to Saudi Arabia this week amid loan interest from Football League clubs.
Instead, Anderson played the full 90-minutes for United’s Under-23s side on Monday evening as they were beaten 1-0 by Nottingham Forest at Whitley Park.
When asked what Newcastle’s plans are with Anderson, Howe told The Echo: "With Elliot, we're looking at the possibility of loaning him but nothing is confirmed on that.
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"The purpose of him staying behind was for him to be available to move and ready to potentially join another club on a loan deal. We're waiting to see whether that's going to happen or not.”
Anderson is understood to be keen to leave on loan before Monday’s 11pm transfer deadline. Championship outfit Luton Town are the side most heavily linked with a move for the teenager but their squad size currently stands at 25 so they will need someone to leave in order to make a move.
Newcastle are close to confirming the signing of Lyon midfielder Bruno Guimaraes for a fee in the region of £33million plus add ons. Howe is also looking to secure further arrivals after that but admits players will have to leave the club before the deadline.
“We know where we are with incomings and we've got to get that balance right,” he added.
“Especially with the younger players, there will be a few outgoings with the younger guys but I'm sure the majority of the squad will stay intact.”