The 27-year-old midfielder, who has had another stop-start season at Glanford Park due to injury, has struggled to win back a place in Russ Wilcox's starting line-up.
Collins played the first five games of the current season after missing most of the 2012/13 campaign due to a career-threatening Achilles injury, but sustained knee ligament damage in August.
He returned to the starting line-up in November for the FA Cup first-round clash at Grimsby, but has since been in and out of the squad, with his last six first-team appearances coming off the bench.
Scunthorpe have a recall clause after the first 28 days.
- Sports & Recreation
- Russ Wilcox