hi Carol, welcome to Oscarfishlover
Unfortunately, it's going to be rather expensive and time-consuming to give Oscar a suitable home to live in for the rest of its life. You would need an absolute minimum of 55 gallons and some good filtration to go along with it. To buying new, you're looking at several hundred pounds, of course you could probably get the equipment secondhand for considerably less. If you're not committed to keeping the Oscar, then do the Oscar and yourselves a really big favour and find an aquatic centre that will take Oscar off your hands. I think that is probably the kindest thing you can do as it does sound like the tank that he is living in at the moment is totally unsuitable. I would also recommend you carrying out a water change for the time being. A 5 1/2 inch Oscar living in a small tank like that won't take very long to turn the water to crap. This will obviously compromise the fishes health. Before you carry out any water changes, please get yourself a water conditioner that removes elements such as chlorine and chloride. I would recommend Waterlife Haloex, this stuff goes a long way, 10mm does something like 50 gallons I think. At least you could make Oscar comfortable until you decide what you are going to do.
if you decide you want to keep Oscar, please tell us and we will give you some good advice on where to go from next.