CU Boulder officials announced a tuition guarantee Wednesday. It's the first time the university has locked rates for in-state students. 

Next year, incoming freshmen from Colorado will see a one-time increase of up to 5 percent in their tuition and mandatory fees. Those will remain locked for four years.

For freshmen, the following two years – the fall of 2018 and 2019 – they'll see a cost freeze as well after one-time increase of up to 4 percent. Currently tuition and fees for in-state students are about $11,000 per year. 

New out-of-state students will see their tuition jump three percent. 

Chancellor Phillip DiStefano says the guarantee shifts the burden of managing the risk of swings in the economy from students and their families to the university. He said it also allows current high school students to plan for what the cost of tuition will be at CU Boulder for the year when they will enter.