The 19-year old defender has failed to force his way into Brendan Rodgers' first team squad at Anfield this campaign so will head out to the Molineux to further his development under former Liverpool and Aston Villa striker Dean Saunders.
"Jack is left-footed and he can play anywhere down the left side and he gives us competition for places," Saunders told the club's official website.
"I spoke to Brendan Rodgers, I spoke to Steve Cooper, who was his coach in the Under-16s and 17s, and I've spoken to nearly all the coaches that he's played for and all of them have been very positive about him.
"He's got really good quality on the ball, he's aggressive and he's a winner. Sometimes a young lad and a fresh face comes in and lifts the place, and I think Jack is strong enough to be able to deal with the pressure."