Their friendship will temporarily be put on hold when Schumacher's Plymouth Argyle take on Lowe's table-topping Preston North End at Deepdale tomorrow.
The former Bury team-mates still speak to each other "all the time, at least once a week," according to Schumacher, and there will be big hug between them, before and after the game, but both will be desperate for their team to come out on top.
It is the first time that Argyle have come up against Lowe since he left the club to take over at Preston in December 2021.
Schumacher could have followed Lowe to Lancashire and continued as his assistant manager, but took the chance to replace as the Pilgrims' boss instead.
"We had a great time together when we were working together so I have missed him because he's one of my best mates," said the 39-year-old.
"He's enjoying what he's doing now at Preston and I'm loving what I'm doing at Argyle so it will be good to see him at the weekend."
It was always Schumacher's intention to make the step into management at some point, and that opportunity arose when Lowe decided to leave for Preston.
He said: "I always had it in the back of my mind that was what I would like to do. I always said I wanted to be the best possible coach that I could become. I learned loads being a number two and watched what Ryan did for the three-and-a-half years, or whatever it was, we worked together.
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