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's rep responded to a report that Justin Bieber is using money from the sale of Rhode to pay back Scooter Braun.