He enjoyed his most successful season as a Friar in 2000–01 when he posted 15 wins, leading PC to the NCAA Tournament and was named to the All-American Second Team.

[1] Following his freshman year with Providence, Schaefer was selected by the San Jose Sharks in fifth round (166th overall) of the 2000 NHL Entry Draft on June 24, 2000.

He followed in his brother Peter Schaefer's footsteps and became the second person from Yellow Grass to be drafted and play in the National Hockey League (NHL).

[3] Schaefer subsequently bounced back and forth between San Jose and Cleveland serving as the Sharks' third string goaltender.

On April 2, 2015, Schaefer signed a two-year contract to return to HC Ambrì-Piotta where he spent three previous seasons before playing as a backup with SC Bern in the 2014–15.