USP Vice Chancellor Rajesh Chandra said the university had been looking at a number of ways to reduce costs.
Professor Chandra said they would restructure and cut back the number of courses which did not have many students.
He said cutting back on the undersubscribed courses would not mean students who had already enrolled in them would have to leave.
Chandra said students in programs would be able to complete them but the university will stop taking new students.
The university also plans to cut costs, including expenditure on travel, purchasing, internet usage, electricity and telephone calls.
In addition, Chandra said, the university would try and generate additional income through consultancies.
Chandra said the university had decided to reduce the number of faculties from four to three.
