In a statement shared with PEOPLE, a rep for Hailey Bieber says her $1 billion Rhode acquisition has nothing to do with her husband Justin Bieber's "business affairs" following his financial settlement with Scooter Braun.

After President Donald Trump signed into law his tax and spending bill, which included major changes to student-loan repayment, the Department of Education announced it was beginning to implement some of the new provisions.

Hailey Bieber denied using the money from the sale of her beauty brand to pay off Justin Bieber and Scooter Braun’s financial settlement. “The historic sale of Rhode is a huge accomplishment for Hailey and is completely separate from her husband and his business affairs,