Schulman earned a BA in philosophy from his hometown university, Vanderbilt.
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Other scripts written or co-written by Schulman include comedies Welcome to Mooseport, What About Bob?, Second Sight (which Schulman sold the same day as Dead Poets Society) and Holy Man, which stars Eddie Murphy.
In 2009, Schulman was elected vice president of the Writers Guild of America, West.
He is a member of Riviera Country Club and donated to their caddy gofundme for coronavirus relief.