Elliott has been a major success at the Championship side this campaign with his stay coming to an end with the visit of Birmingham City on Saturday.
"Definitely," he said, when asked about being confident of making it at Liverpool. "I had a few appearances here and there last season and took this loan with Blackburn, which I personally thought would be the best thing for me.
"I had a chat with Jurgen as well and he said for me to go and express myself, and that the move would be the best thing for my career and for me to get the games and experience. He said he'd support me 100%.
"Next season I am going to go back thinking I can get in the team. I have had this experience and feel ready, and have 50 appearances under my belt, which is a lot for a teenager.
"I feel 100% confident I can go in and challenge. I'm looking forward to the fight and showing to people I am a different player and ready to play when called upon.
"I will need to work hard and train well and if I get my chance, I have to take it."