Published Thursday, 14 July 2011
The comments by Peter Robinson and Martin McGuinness come a week after the Executive failed to discuss the issue before the summer recess, prompting student unions to voice their concerns.
"There should be no disappointment on the part of student leaders, they will know that our parties have committed themselves during the election period to ensure that there would be no massive hike in tuition fees", Mr Robinson said.
He said the fees would only rise in line with inflation.
"We're both determined that we will keep our manifesto commitment," he added.
Last week, Employment and Learning Minister Stephen Farry said his recommendations on university fees were under consideration by the Executive.
On Thursday, Mr McGuinness said "there's certainty" over the issue.
The decision is in stark contrast with massive rises in fees of up to £9,000 a year in England and Wales.
There are now concerns over how the Executive will plug the £40m university funding gap without the hike in tuition fees.
"The challenge is: how do we pay for that?" Mr McGuinness conceded.
"We're involved in our own discussions about how we do that.
"We believe that, as an executive, we can deal with the implications vis-à-vis funding for the universities."
Detailed proposals for higher education funding and student finance are expected in September.