Yes, and many do the semester abroad program. Some do not because a semester abroad requires timing your academic classes correctly and not wanting to step out of ROTC.
Remember depending on the school they may charge a higher tuition rate to do a semester abroad, so check into that if you are a scholarship recipient. Some schools also require you to apply to the schools overseas (i.e. like college) and it is not a guarantee. DD is going through the process now for her major at VT and she first had to get department advisor support, and now she is in the process of applying to certain schools for spring semester jr yr (she is a soph) and will find out results next fall. As an IS student (not ROTC), the tuition will remain the same.
You also have the opportunity to do summer abroad which many opt for to get that experience.