The Student Loan Marketing Association (SLMA) Has Short-Term Student Loans

The Student Loan Marketing Association (SLMA) has short-term student loans funded by long-term debt. To hedge out this interest rate risk, SLMA could:
I. Engage in a swap to pay fixed and receive variable interest payments
II. Engage in a swap to pay variable and receive fixed interest payments
II. Buy T-bond futures
IV. Sell T-bond futures

A) I and II only
B) I and IV only
C) II and III only
D) II and IV only