Tuition fees could be cut from £9,250 to a maximum of £7,500 but critics fear arts and humanities could disappear from universities.
According to a Government consultation which is due to begin next month, ministers are aiming to switch more students into science, technology, healthcare and technical courses.
Science degrees would be topped up by extra Government funding which could lead to subjects such as languages, philosophy, theology, history and the creative arts being removed from universities, The Times reports.
Education Secretary Gavin Williamson told the Conservative Home website that the number of people already taking up science and engineering-based degrees
Aston University is already planning to close its history and language department. (University of Aston residence)
London South Bank plans to stop teaching history and human geography, Aston University is already planning to close its history and language department and Hull University is cutting degree courses in foreign languages.
Education Secretary Gavin Williamson told the Conservative Home website that the number of people already taking up science and engineering-based degrees shows many are 'starting to pivot away from dead-end courses that leave young people with nothing but debt.'
The move comes amid growing concern in the Treasury that the current student loan scheme is unaffordable.
Peers warned it would cost about £1 trillion by 2040 with close to 83 per cent of loans never being repaid in full.
Data shows that salaries for arts graduates from degree courses can earn as little as £12,000 a year.
The reason most degrees are never repaid in full is that graduates do not earn enough until they meet the £27,295 a year threshold to begin repayments.