Schulz attended Washington Park High School in Racine, Wisconsin. He attended the University of Wisconsin–Madison during the 1936–37 season but did not play on the varsity basketball team.
A 6'2" forward/guard, Schulz played four seasons (1946–1950) in the Basketball Association of America (BAA) and National Basketball Association (NBA) as a member of the Cleveland Rebels, Toronto Huskies, Baltimore Bullets, Washington Capitols, Tri-Cities Blackhawks, and Sheboygan Red Skins. He averaged 5.6 points per game in his BAA/NBA career and won a BAA championship with Baltimore in 1948.

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