If you're interested in taking a class at Oxford next summer, I recommend reading more about it on their website at http://www.conted.ox.ac.uk/courses/summerschools/oxex/index.php. The website currently has up the 2012 program information, but I received a 2013 summer program plan while I was at Oxford, so I assume their website will be updated shortly.
In terms of cost, the tuition this past year was 1135 pounds, which is about $1800. The $1800 includes your class, three meals a day in the breath-taking dining hall, and your lodging in a dorm room at Christ Church. I found that once I was on campus I didn't need to spend any money with the exception of six pounds for a walking tour of the city and thirty pounds for the afternoon excursion to the manor house of Basildon Park. My plane ticket from Milwaukee to Toronto to London on Air Canada was $1283 and that included insurance. The cost of the flight was a bit bumped up over the normal cost because of the Olympics, so I think you would need to budget about $1100 for a flight from the Midwest. The bus ride from London to Oxford cost about $40 roundtrip. I bought my bus tickets online ahead of time from "The Airline" bus company. I went to Oxford two days before my class began and spent $75 a night at a bed and breakfast called the White House View Guesthouse (I booked it through www.booking.com). If you go early or stay later, it is very easy to stay within a small budget for dining in the city of Oxford. There are many small cafes, restaurants, and stands on the street where you can get a meal for under $10, plus grocery stores like Tesco are easy to find. There are also plenty of higher end restaurants if you would like to go that way, as well.
I thought that going to Oxford this summer was going to be a once-in-a-lifetime experience, but now that I have been there I know that I need to go back. So many of the people there who take courses in the summer return year after year. I will definitely take another class there as soon as I can!
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