Is a subgroup of a free abelian group free abelian?

A variety of groups $V$ is said to have the Schreier property if every subgroup of a free group in the variety is free. It is a classical theorem of Peter Neumann and James Wiegold that the only varieties of groups with the Schreier property are: the (absolutely) free groups, the free abelian groups, and the free exponent $p$ abelian groups for $p$ prime.

Yes.

(EDIT: If you don't like following links, this is the Wikipedia article on Free abelian groups which, uncharacteristically, contains a complete (and correct) proof of precisely that statement).