The 20-year-old, who came through the youth ranks at the Championship club, has spent the past week with Sir Alex Ferguson's side.
"He is training with them at the moment. I have allowed him to go there for a week. It is a great opportunity for him," Pearson told the Leicester Mercury.
"We have a good relationship with United and I am not going to stand in his way to go there for a week's training. If anything comes of it, we will wait and see. They have had a good look at him."
Schlupp has made five starts for Leicester this season.