MADISON, Wis. (CBS 58) -- Universities of Wisconsin leaders announced a proposal Monday, Aug. 17, to freeze tuition through the 2027-29 budget cycle, provided the state invests $190 million to cover the cost of the freeze and other operating needs.

Under the plan, called the 4-Year Tuition Pledge, the university system would also commit to keeping tuition increases at or below the rate of inflation for the following two years.

Students entering in fall 2027 would see declining tuition relative to inflation for four years, according to UW System Regent President Kyle Weatherly.

"This proposal means four years of predictable tuition with costs that remain well below inflation," Weatherly said. "It represents an important commitment to Wisconsin families and helps ensure the Universities of Wisconsin remain the Midwest leader in tuition affordability."

Leaders also announced Wisconsin Work and Learn, a program pairing last-dollar financial aid with a work or career-preparation requirement for students from families earning below the state's median household income.

The proposals were announced at news conferences at UW-Stevens Point and UW-Green Bay.