There already is informal schism from the teaching that has been handed down from Christ and  Apostles to us in the Church for 50+ years. It's been papered over up to this point. Will there be a formal schism?  I don't claim to know, but I do know Christ promised the gates of Hell will not prevail against the Church. Any schism won't come from those loyal to Christ, and what His Church has always believed. 

Again, I don't think Francis would like how it would look if he excommunicated the Four Cardinals for asking questions...it just wouldn't go with the whole "mercy" theme. He would have to excommunicate all his predecessors and all the faithful gone before us who believed the same thing!  

I do think we're Burke to issue a formal correction, he would dot his i's and cross his t's and give Francis three warnings.  It's an interesting question if a pope can schism from Christ or from the faithful members of His body.