Oracle schemas are like My Documents folders in the Windows OS. A user can grant permissions to other users to see things in their schema but an Oracle schema is essentially a user's workspace.
MS SQL Server's schemas are namespaces. While you can have Accounting and Marketing schemas, they are not tightly-coupled to individual users. Objects in an Accounting schema contain accounting information and objects in the Marketing schema have marketing information.
Oracle schemas are tightly-coupled to users and MS SQL Server schemas are primarily for classification.
See this question for more information: Difference between SQL Server and Oracle user
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