The deal for Jadon Sancho is his third successive loan, with Aston Villa agreeing to pay a loan fee and 80 per cent of his considerable wages.
Harvey Elliott joins on a season-long loan, which includes an obligation for Aston Villa to purchase the England Under-21 international from Liverpool for £35m next summer.
These reinforcements address Unai Emery's need for new players, as Aston Villa were the only Premier League team yet to score a goal this season.
Liverpool included both a sell-on and a buy-back clause in Elliott's deal, as the player sought more first-team opportunities after winning the European Under-21 Championships.