Nancy Grace has advice for Lori Loughlin as she faces possible prison sentence (Exclusive)

Nancy Grace is offering up her opinion regarding Lori Loughlin's involvement in the college admissions scandal.

The outspoken legal commentator and TV personality weighed in on the Fuller House star's legal woes when ET spoke with her at DailyMail.com and DailyMailTV's holiday party held at the Cathédrale restaurant in New York City. 

Loughlin and her husband, Mossimo Giannulli, are accused of paying $500,000 in bribes to get their daughters, 20-year-old Olivia and 21-year-old Bella, admitted to the University of Southern California as recruits for the crew team, even though neither had ever participated in the sport. Loughlin and Giannulli have pleaded not guilty to all charges against them. 

Grace, 60, offered up some advice for the couple, telling ET, "Follow the counsel of your lawyers but always, in every way, tell the truth -- which is sometimes very hard to do."

As for what she thinks the future holds for Loughlin, Grace said, "When you don't know a horse, look at his track record. Other co-defendants charged in similar crimes have gotten jail time -- and very stiff fines. So I think with that in mind, I would try to work with prosecutors."

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Lori Loughlin and Mossimo Giannulli return to court
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Lori Loughlin and Mossimo Giannulli return to court
BOSTON, MA - AUGUST 27: Lori Loughlin and her husband Mossimo Giannulli, right, leave the John Joseph Moakley United States Courthouse in Boston on Aug. 27, 2019. A judge says actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, can continue using a law firm that recently represented the University of Southern California. The couple appeared in Boston federal court on Tuesday to settle a dispute over their choice of lawyers in a sweeping college admissions bribery case. Prosecutors had said their lawyers pose a potential conflict of interest. Loughlin and Giannulli say the firms work for USC was unrelated to the admissions case and was handled by different lawyers. (Photo by John Tlumacki/The Boston Globe via Getty Images)
BOSTON, MA - AUGUST 27: Lori Loughlin, center, and her husband Mossimo Giannulli, behind her at right, leave the John Joseph Moakley United States Courthouse in Boston on Aug. 27, 2019. A judge says actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, can continue using a law firm that recently represented the University of Southern California. The couple appeared in Boston federal court on Tuesday to settle a dispute over their choice of lawyers in a sweeping college admissions bribery case. Prosecutors had said their lawyers pose a potential conflict of interest. Loughlin and Giannulli say the firms work for USC was unrelated to the admissions case and was handled by different lawyers. (Photo by John Tlumacki/The Boston Globe via Getty Images)
BOSTON, MA - AUGUST 27: Lori Loughlin, center left, and her husband Mossimo Giannulli, center right, leave the John Joseph Moakley United States Courthouse in Boston on Aug. 27, 2019. A judge says actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, can continue using a law firm that recently represented the University of Southern California. The couple appeared in Boston federal court on Tuesday to settle a dispute over their choice of lawyers in a sweeping college admissions bribery case. Prosecutors had said their lawyers pose a potential conflict of interest. Loughlin and Giannulli say the firms work for USC was unrelated to the admissions case and was handled by different lawyers. (Photo by Pat Greenhouse/The Boston Globe via Getty Images)
Actress Lori Loughlin (C) and husband Mossimo Giannulli (C rear)exit the Boston Federal Court house after a pre-trial hearing with Magistrate Judge Kelley at the John Joseph Moakley US Courthouse in Boston on August 27, 2019. - Loughlin and Giannulli are charged with conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in the college admissions scandal. (Photo by Joseph Prezioso / AFP) (Photo credit should read JOSEPH PREZIOSO/AFP/Getty Images)
Actress Lori Loughlin (C) and husband Mossimo Giannulli (C rear) exit the Boston Federal Court house after a pre-trial hearing with Magistrate Judge Kelley at the John Joseph Moakley US Courthouse in Boston on August 27, 2019. - Loughlin and Giannulli are charged with conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in the college admissions scandal. (Photo by Joseph Prezioso / AFP) (Photo credit should read JOSEPH PREZIOSO/AFP/Getty Images)
Actress Lori Loughlin and husband Mossimo Giannulli exit the Boston Federal Court house after a pre-trial hearing with Magistrate Judge Kelley at the John Joseph Moakley US Courthouse in Boston on August 27, 2019. - Loughlin and Giannulli are charged with conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in the college admissions scandal. (Photo by Joseph Prezioso / AFP) (Photo credit should read JOSEPH PREZIOSO/AFP/Getty Images)
Actress Lori Loughlin (C) and husband Mossimo Giannulli (C rear)exit the Boston Federal Court house after a pre-trial hearing with Magistrate Judge Kelley at the John Joseph Moakley US Courthouse in Boston on August 27, 2019. - Loughlin and Giannulli are charged with conspiracy to commit mail and wire fraud and conspiracy to commit money laundering in the college admissions scandal. (Photo by Joseph Prezioso / AFP) (Photo credit should read JOSEPH PREZIOSO/AFP/Getty Images)
BOSTON, MA - AUGUST 27: Lori Loughlin, center, and her husband Mossimo Giannulli, behind her at right, leave the John Joseph Moakley United States Courthouse in Boston on Aug. 27, 2019. A judge says actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, can continue using a law firm that recently represented the University of Southern California. The couple appeared in Boston federal court on Tuesday to settle a dispute over their choice of lawyers in a sweeping college admissions bribery case. Prosecutors had said their lawyers pose a potential conflict of interest. Loughlin and Giannulli say the firms work for USC was unrelated to the admissions case and was handled by different lawyers. (Photo by John Tlumacki/The Boston Globe via Getty Images)
BOSTON, MA - AUGUST 27: Lori Loughlin and her husband Mossimo Giannulli, behind her at left, leave the John Joseph Moakley United States Courthouse in Boston on Aug. 27, 2019. A judge says actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, can continue using a law firm that recently represented the University of Southern California. The couple appeared in Boston federal court on Tuesday to settle a dispute over their choice of lawyers in a sweeping college admissions bribery case. Prosecutors had said their lawyers pose a potential conflict of interest. Loughlin and Giannulli say the firms work for USC was unrelated to the admissions case and was handled by different lawyers. (Photo by John Tlumacki/The Boston Globe via Getty Images)
Actress Lori Loughlin and her husband, fashion designer Mossimo Giannulli, arrive at the federal courthouse for a hearing on charges in a nationwide college admissions cheating scheme in Boston, Massachusetts, U.S., August 27, 2019. REUTERS/Josh Reynolds
Actress Lori Loughlin, and her husband, fashion designer Mossimo Giannulli leave the federal courthouse after a hearing on charges in a nationwide college admissions cheating scheme in Boston, Massachusetts, U.S., August 27, 2019. REUTERS/Josh Reynolds
Lori Loughlin departs federal court Tuesday, Aug. 27, 2019, in Boston, after a hearing in a nationwide college admissions bribery scandal. (AP Photo/Steven Senne)
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One such co-defendant is Felicity Huffman, who completed a 14-day prison sentence in October. The 56-year-old actress admitted to paying $15,000 to help get her eldest daughter, 19-year-old Sophia, into an elite college by cheating on the SAT. She formally pleaded guilty to charges of mail fraud and honest services mail fraud back in April.

Grace thinks Huffman handled her case "incredibly." 

"I think that saying, 'I did this, I'm embarrassed, I've caused my family a lot of pain,' ...it's not just for the public, it's for your children," she told ET. "To see mom say, 'You know what, I did something wrong. I was misguided, I was wrong.' And when an otherwise totally wonderful and good person stands in front of a judge and says, 'I screwed up. I did something horrible.' It's really hard to maintain your anger and seek retribution when someone's admitting they did this thing."

Grace added, "I think Felicity Huffman did an incredible job. And based on that, I know she did a bad thing but I think she set a really good example for her children by telling the truth."

Last month, a source told ET that Loughlin is "terrified" as she faces prison time if found guilty. 

"She is breaking down," the source said. "Those closest to her are devastated because she has been a good person to them and know she could be facing jail time because of very poor judgement. Her friends are supporting her and keep reminding her if she does time behind bars she will get through this."

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Lori Loughlin and husband Mossimo Giannulli together
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Lori Loughlin and husband Mossimo Giannulli together
LOS ANGELES, CA - APRIL 18: Designer Mossimo Giannulli and actress Lori Loughlin attend LACMA's 50th Anniversary Gala sponsored by Christie's at LACMA on April 18, 2015 in Los Angeles, California. (Photo by Donato Sardella/Getty Images for LACMA)
BEVERLY HILLS, CA - JUNE 03: Lori Loughlin and Mossimo Giannulli attend 6th Annual Kidstock Music And Arts Festival Sponsored By Hudson Jeans at Greystone Mansion on June 3, 2012 in Beverly Hills, California. (Photo by Donato Sardella/WireImage)
MALIBU, CA - APRIL 21: Designer Mossimo Giannulli and actress Lori Loughlin attend the Malibu Lumber Yard grand opening held at the Malibu Lumber Yard on April 21, 2009 in Malibu, California. (Photo by John Shearer/WireImage)
BEVERLY HILLS, CA - FEBRUARY 20: Actress Lori Loughlin (L) and husband Mossimo Giannulli attend the Saks Fifth Avenue's Unforgettable Evening cocktail reception benefiting Entertainment Industry Foundation's (EIF) Women's Cancer Research Fund held at the Beverly Wishire Hotel on February 20, 2008 in Beverly Hills, California. (Photo by Donato Sardella/WireImage)
LOS ANGELES, CA - OCTOBER 28: Lori Loughlin and Mossimo attend Louis Vuitton Gala Celebrating the Takashi Murakami Exhibition at Geffen Contemporary at Moca on October 28, 2007 in Los Angeles, CA. (Photo by BRIAN LINDENSMITH/Patrick McMullan via Getty Images)
John Stamos and Lori Loughlin during Target Hosts LA Fashion Week Party for Designer Mossimo Giannulli - Inside at Area in West Hollywood, California, United States. (Photo by L. Cohen/WireImage for LaForce and Stevens)
John Stamos, Lori Loughlin and Mossimo Giannulli during Target Hosts LA Fashion Week Party for Designer Mossimo Giannulli - Inside at Area in West Hollywood, California, United States. (Photo by L. Cohen/WireImage for LaForce and Stevens)
Mossimo Giannulli and Lori Loughlin during Target Hosts LA Fashion Week Party for Designer Mossimo Giannulli at Area in Los Angeles, California, United States. (Photo by L. Cohen/WireImage for LaForce and Stevens)
Lori Loughlin and Mossimo during Saks Fifth Avenues Unforgettable Evening Benefitting EIFs Womens Cancer Research Fund at Regent Beverly Wilshire Hotel in Beverly Hills, California, United States. (Photo by Donato Sardella/WireImage for Entertainment Industry Foundation)
Lori Loughlin and Mossimo during 30th Anniversary Party for Hello Kitty Presented by SANRIO and Target - Pink Carpet at Raleigh Studios in Hollywood, California, United States. (Photo by J. Vespa/WireImage for Sanrio, Inc)
Mossimo Giannulli & Lori Loughlin during Mossimo's New Collection Celebration at Moomba in West Hollywood, California, United States. (Photo by J. P. Aussenard/WireImage)
Lori Loughlin & Mossimo during Marc Anthony Pilots Jaguar's Tribute To Style - March 18, 2001 at Barker Hangar in Santa Monica, California, United States. (Photo by SGranitz/WireImage)
381656 06: Designer Mossimo Giannulli with actress wife Lori Loughlin, left, and actress Valerie Bertinelli attend a party to launch the famed sportswear designer Mossimo Giannulli Collection November 9, 2000 at The Drive-In Studios in New York City. (Photo by George DeSota/Getty Images)
Mossimo Giannulli & Lori Loughlin during 14th Carousel of Hope Ball for Barbara Davis Center for Diabetes at Beverly Hills Hilton Hotel in Beverly Hills, California, United States. (Photo by SGranitz/WireImage)
Lori Loughlin & Mossimo during An Evening of Song & Spirit A Benefit For Gaian Yoga For Life at Private House in Bel Air, California, United States. (Photo by SGranitz/WireImage)
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