I have been trying to figure this out as it would seem that it should be so. I have been search though, and the only solution seems to treat the compact case with homology beyond what I know. I believe that it is true, but I could imagine a counter-example may exist.
I frankly have no idea how to go about proving this. I am able to show that orientablility is equivalent to the existence of smooth function on $\mathbb{R}^n$ with the manifold as the preimage of a regular value, but then I become stuck.
Does any have any proofs or counterexamples?
There is a fairly elementary treatment in Guillemin and Pollack, Differential Topology. Pages 85-91 take you through the Jordan-Brouwer Separation Theorem. Your hypersurface separates $\mathbb R^n$ into an inside and an outside. There is a consistent choice of normal vector pointing inside. Depending how you are learning orientation, there are various ways a normal field in codimension one gives an orientation