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President-elect Trump has agreed to a $25 million settlement in the case over his now-defunct for-profit online college.

“I am pleased that under the terms of this settlement, every victim will receive restitution and that Donald Trump will pay up to $1 million in penalties to the State of New York for violating state education laws,” New York State Attorney General Eric Schneiderman said in a Friday statement. “The victims of Trump University have waited years for today’s result and I am pleased that their patience—and persistence—will be rewarded by this $25 million settlement.”

The incoming Republican president has agreed to pay $25 million to settle the complaint against Trump University and will refuse to admit to wrongdoing as part of the settlement, the New York Daily News reported Friday. Former students of the online college alleged that Trump knowingly defrauded them out of tens of thousands of dollars during their enrollment in the online real estate and business program.

“In 2013, my office sued Donald Trump for swindling thousands of innocent Americans out of ​millions of dollars through a scheme known at Trump University,” Schneiderman said in his statement. “Donald Trump fought us every step of the way, filing baseless charges and fruitless appeal​s​ and refusing to settle for even modest amounts of compensation for the victims of his phony university. Today, that all changes. Today’s $25 million settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university.”

Trump’s decision to settle the lawsuit contradicts what he repeatedly told supporters throughout his White House bid.

“It would be easy for me to settle the case. It’s a simple civil case. Probably I should, but I don’t want to because I give them a great soundbite. I don’t settle cases. I don’t get sued because I don’t settle cases. I win in court,” he told MSNBC in March.

Trump reiterated that he had no plans to settle the matter shortly before his election earlier this month. But with his inauguration fast approaching and a trial set to begin next week, it appears the incoming Republican president has changed his mind.

The settlement was negotiated by New York State Attorney General Eric Schneiderman and Trump’s lawyers.

“We are pleased to announce the complete resolution of all litigation involving Trump University,” said a spokesman for the Trump Organization. “While we have no doubt that Trump University would have prevailed at trial based on the merits of this case, resolution of these matters allows President-Elect Trump to devote his full attention to the important issues facing our great nation.”

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A spokesperson for Schneiderman told the Daily News the state attorney general “has always been open to a settlement that fairly compensates the many victims of Trump University who have been waiting years for a resolution.”

The president-elect has long maintained that Trump University was widely seen as a success among its students, of whom he claims “98 percent” said the courses were terrific, and “had an A rating from the Better Business Bureau.”

Trump did not immediately comment on the settlement.

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