A Bicester comprehensive school could be in line for major refurbishment if a bid for cash is successful.
Cooper School, Churchill Road, Bicester, would benefit from Oxfordshire County Council's attempt to win money from the government's private finance initiative (PFI).
Headteacher Andrew Hamilton said: "Our governors are happy to explore the PFI, but there are implications for the management of our site."
If the finance became available the school could have more dining hall space, and laboratories.
Mr Hamilton said: "This is all still some way off and we have not got any information on how much it would all cost."
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