I believe a loan back feature should exist, but in order to take your player back, both managers should agree to cancel the deal.
The "Lack of match time" is not fair IMHO, you can't push somebody to use a player..... some people placed youngsters valued 165k, those kids have no chance to play official matches, honestly......
I believe there's only way to work in loan feature: before sending a player to loan, agree what will his role be....... and if possible let the player in a team managed by somebody you know, i have 2 loaned out players and my experience with them is great, my 2 loaned in players are ok.... one of them was a keeper, called to be substitute from the very begginning.... now that i don't need a substitute (my keeper reached his LA) i'm giving him some hard trainning, hoping to get some good training. The other is an FC, i asked him under similar circunstances, he plays quite often and we agree on his training schedule, so i give him the right coach.... it's the only way loan feature must work IMHO.