An exchange student: a student sent to study at a partner school (often abroad) for a set period under an exchange program.
彼は去年一年間、交換学生としてアメリカの大学に通った。
He attended a university in the U.S. as an exchange student for one year last year.
大学の交換学生プログラムに応募して、合格通知を受け取った。
I applied to the university's exchange student program and received an acceptance letter.
交換学生は現地のホームステイで生活を体験した。
The exchange student experienced living with a host family.