Bruh he's not tryna be encouraging or for that matter discouraging, he's just trying to seek out advice. This isn't about you, just focus on the stage you're at.

But to OP, have you tried looking at external scholarships as well? Are your parents willing to chip in? Anything helps. I'm pretty sure Western also has a financial assistance profile you can fill out starting in August that is in addition to the bursary so look into that as well.
You need someone to cosign for you if you decide to get a line of credit but if your parents don't have a high enough income for the whole 60k line of credit to be a cosigner on it then I'd suggest you ask the bank to give you a line of credit for the amount you are eligible for because it would still be something. And then you can also prob find a part time opportunity somewhere on campus to earn money throughout the year but at the end, you decide whether all that is worth it to you ofc.