We describe a class of modulator design involving slot waveguides and electro-optic polymer claddings. Such geometries enable massive enhancement of index tuning when compared to more conventional geometries. We present a semi-analytic method of predicting the index tuning achievable for a given geometry and electro-optic material. Based on these studies, as well as previous experimental results, we show designs for slot waveguide modulators that, when realized in a Mach-Zehnder configuration, will allow for modulation voltages that are orders of magnitude lower than the state of the art. We also discuss experimental results for nano-slot waveguides.