Published Thursday, 08 September 2011
Minister for Employment and Learning Stephen Farry said fees would be kept at £3,500 per year and would be subject only to a rise in inflation.
Dr Farry said he secured funds from the Executive to address the £40m higher education budget deficit.
The Alliance minister said: "My overarching concern is to ensure that Northern Ireland continues to have a world class higher education system and that university study is available to all, irrespective of background."
First Minister Peter Robinson said: "Northern Ireland has some of the best educated graduates in Europe."
"Time and time again investors in Northern Ireland tell us that the primary reason they have chosen this location is the high quality of our university graduates."
Deputy First Minister Martin McGuinness said the decision would be widely welcomed "by students and their families here."
Queen's University Pro-Vice-Chancellor Professor Tony Gallagher said it was "good news for students, good news for parents, and good news for Northern Ireland".
He added that the decision ended the uncertainty facing prospective students.
"We must now all get back to the business of ensuring a sustainable and competitive sector where students, from all backgrounds, continue to have fair access to a local world-class higher education system," he said.
The National Union of Students also welcomed the move, but called on the Executive to make sure other forms of education don't lose out as a result.
"We are delighted that the Executive have listened to the needs of students and not raised tuition fees," said Adrianne Peltz.
"They must ensure however that they are not robbing Peter to pay Paul by taking funding from other forms of education.
"Funding is under threat across the entire education sector and in difficult economic times it is vital that all students at all levels are protected."