He has missed the Blues' recent upturn in fortunes, after failing to break back into the team following a two-match suspension.
Oxford manager Ian Atkins says that he brought Foran in as cover for the suspended Julian Alsop, and may make the move permanent.
Carlisle United Chairman John Courtenay however told our sister site CUFC Online, that he expects the Irish striker to return north once the loan deal was completed.
He said: "He has done it for us on many occasions when anybody else would have cried off and has played through injuries without ever a thought for himself.
"We all at the club, and I mean all, have the highest regard for Richie. He will be welcomed back here when the time comes in one month."