I really don't see the point in loaning out Fabio.
FIrstly, he's already had a run in the first team and proven he has the ability to do a good job. Last season he was our first choice right back for the last 15 or so games and played in some huge games(Chelsea, CL semi finals, and CL final).
Secondly, there is also a spot for him to be used on the left flank covering for Evra where he played most of his football for United, prior to that run in the side last season. If we ever had any issues down the right, he's proven he can do a job there as well.
Thirdly, he's in his earlier 20's and probably would have benefited from this more a couple of years back. Now he can develop with our first team.
For me, he should be getting games for United as a squad player. He's more than good enough and only niggling injuries have held him back. This is particilarly odd considering JOS was sold on last year.