Players must be 20 or under on 1st July preceding the season to qualify for a youth loan making Porter, who celebrated his 20th birthday on 27th June, eligible.
This loan enables Burnley to recall him at any given time but the likelihood is he'll remain with Colchester for the remainder of the season given that he's still to feature in our first team, the nearest he's come being a surprise inclusion on the bench for our Capital One Cup defeat at Swindon in September.
He signed for the Clarets after two years at Leyton Orient. He was out of contract but there was a fee payable because of his age. The two clubs couldn't agree on the fee and it was decided by the Professional Football Compensation Committee two days before the league season got underway.
They decided on an immediate of fee of £90,000 with add on payments taking it to a potential £260,000.
Colchester are currently 20th in League One and Porter could go straight into their squad for the away game at Crawley tomorrow.
Source: Clarets Mad