The 24-year-old will remain with the club for a month and will improve boss Roberto Di Matteo's goalkeeping options.
Willy Gueret is preparing to start a three-match ban after being sent off against Cheltenham Town on Saturday while the Frenchman's replacement, Nathan Abbey, is currently struggling with an ankle injury.
Price will remain at stadium:mk until November 26 and will be eligible to play for the Dons in the FA Cup.