First of all where in Europe do you wish to go?
I personally don't care for western europe, but i love the food, people, culture and architecuture of Central Europe.
This past March and April I took 6 weeks and traveled through Romania, Serbia and Hungary (family in Budapest)
The hell with a travel agency, wing it man! Is way more fun. Most the young ppl know english, so if ya get lost find a young person.
Study the country you plan to go on the net and by reading books.
Brasov Romania, 3 ppl eating $15

Belgrade Serbia, 2 ppl eating $15
CAUTION, you might not want to return.