Additionally, Huffman, and her husband, actor William H. Macy, have been accused of making a "charitable contribution" of $15,000 to participate in a cheating scheme on behalf of their eldest daughter, paying for her to be given twice the amount of time to take the SATs compared to other students.
In an earlier court appearance, Huffman said she regretted her role in the scandal and admitted to wrongdoing.
The Desperate Housewives actress appeared in court on Monday to officially plead guilty in the case. Wealthy parents paid a total of $25 million to bribe coaches to help their children gain spots at universities like Yale, Georgetown and the University of Southern California.
Investigators have said Macy, 69, was with her when admissions consultant Rick Singer explained how he could arrange for the cheating because he "controlled" a test centre.
Singer also paid off entrance exam administrators to allow someone else to take tests for students or fix their answers, authorities say.
The "Desperate Housewives" star was accused of paying $15,000 to increase her oldest daughter's SAT scores.
Sentencing was set for September 13.
In exchange for Huffman's guilty plea, federal prosecutors agreed to recommend incarceration at the "low end" of the sentencing range, a $20,000 fine and 12 months of supervised release, the plea agreement states, according to CNN.
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Huffman later discussed the scheme in a recorded phone call with Singer, the complaint says. Prosecutors have not explained why.
Experts differ on the long-term impact the scandal will have on Huffman's career.
U.S. District Judge Indira Talwani asked Huffman if she was pleading guilty without any threats or pressure. A limited Netflix series featuring Huffman on the Central Park Five case is expected to debut this month.
Loughlin has pleaded not guilty to charges that she and her husband agreed with Singer to pay $500,000 to have their two daughters named as recruits to USC's crew team, even though they did not row.
Some parents have made a decision to fight the charges.
Less than a week later, the Department of Justice announced Huffman was one of the defendants who agreed to plead guilty to one count of conspiracy to commit mail fraud and honest services mail fraud.
Sloane, who founded a drinking and wastewater systems company, bought water polo gear online and worked with a graphic designer to create a bogus photo of his son playing the sport for the teen's application, officials say.
Singer, of Newport Beach, Calif., pleaded guilty to racketeering conspiracy and other charges and is cooperating in the investigation.