We use a newly assembled sample of 3545 star-forming galaxies with secure spectroscopic, grism, and photometric redshifts at z=1.5-2.5 to constrain the relationship between UV slope (β) and dust attenuation (L IR /L UV ≡IRX). Our sample significantly extends the range of L UV and β probed in previous UV-selected samples, including those as faint as M 1600 =−17.4 ( L 0.05 UV * ) and −2.6β0.0. IRX is measured using stacks of deep Herschel data, and the results are compared with predictions of the IRX−β relation for different assumptions of the stellar population model and obscuration curve. We find that z=1.5-2.5 galaxies have an IRX −β relation that is consistent with the predictions for an SMC curve if we invoke subsolar-metallicity models currently favored for high-redshift galaxies, while the commonly assumed starburst curve overpredicts the IRX at a given β by a factor of 3. IRX is roughly constant with L UV for L UV 3×109 L e . Thus, the commonly observed trend of fainter galaxies having bluer β may simply reflect bluer intrinsic slopes for such galaxies, rather than lower obscurations. The IRX−β relation for young/low-mass galaxies at z2 implies a dust curve that is steeper than the SMC. The lower attenuations and higher ionizing photon output for low-metallicity stellar populations point to Lyman continuum production efficiencies, ξ ion , that may be elevated by a factor of ≈2 relative to the canonical value for L * galaxies, aiding in their ability to keep the universe ionized at z∼2.