The Englishman spent the first half of the season in Germany. However, he was unable to nail down a regular place in the first team. He has only appeared four times for Monchengladbach.
At 19 years old, Oxford is still seen as a big talent. But it is unclear whether his short term future lies at West Ham, or a January transfer to another club is on the cards.
The Oxford saga shows the importance of clubs choosing the correct loan destinations for young players.
RB Leipzig are reportedly interested in signing the Hammers youth product.