"We are saddened by the recent news surrounding the college admissions allegations", the statement read.
The company added it is now evaluating all creative options around the show, and said the series will not air this Sunday while this is taking place. She has also said that she only went to college because her parents wanted her to.
Loughlin and the Hallmark Channel were deeply intertwined.
Loughlin was now involved in the Garage Sale Mysteries movie series and When Calls the Heart, which is in its sixth season.
The YouTube star daughter of actress Lori Loughlin admitted just last week that her parents forced her to go to college and that her father "faked his way" through school by using tuition money to start his design business.
It's not all bad news though, as the attention has helped her gain over 6,000 new subscribers in only two days - before the channel would only attract 300-500 new subscribers a day, according to SocialBlade. Her Bronze and Illuminate palette dropped back in December, and although it's now sold out, people are not afraid to say that they hope it doesn't come back in stock. She will have to surrender her passport in November, when her projects are expected to wrap.
CNN has contacted Iconix Brand Group, which owns Giannulli's namesake fashion company, Mossimo.
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Later, India asked Britain to extradite him after reports said he had entered that country. The rent of the apartment is estimated to be around 17,000 pounds a month.
The actress' travel was restricted to the United States and Canada, as she had been filming Hallmark's Garage Sale Mysteries in Vancouver.
Loughlin had also appeared in some of Hallmark's signature Christmas movies, such as Northpole: Open for Christmas, Every Christmas Has a Story, and Homegrown Christmas.
She added: "I'm really disappointed in myself".
Loughlin was in Vancouver Tuesday filming the 16th film in the Garage Sale Mysteries series when Federal Bureau of Investigation agents showed up at her Los Angeles home to charge her and her husband, clothing designer Mossimo Giannulli, with fraud.
Olivia Jade feels her world is crumbling after the arrest of her parents Lori Loughlin and Massimo Giannulli for helping to get into USC. However, neither Isabella nor Olivia reportedly participated in the sport.
Olivia Jade often collaborated with popular YouTuber David Dobrik. "The parents, the other defendants, are clearly the prime movers of this fraud".
Actress Felicity Huffman, known for her role on "Desperate Housewives", was also indicted in the scheme. She appeared in Los Angeles federal court Tuesday looking visibly exhausted, before posting $250,000 bail and surrendering her passport.
The scam is said to have involved faking Olivia's sporting records to make it seem like she was part of a school rowing crew.