As always, you should defer to your professor on matters of convention. If he says to use a colon in such and such way, do it. That being said...
Usually you see a colon in set builder notation, ie $$\{n\in\mathbb{N} : n^2 \geq n\}$$ In which case you would read it as "(the set containing) all natural numbers such that $n$ squared is greater than or equal to $n$."
The colon is usually not used in propositions meant to be read, so you wouldn't use $$\forall n\in\mathbb{N}:n^2≥n$$ to mean "for all elements in the natural set such that the square of n is greater or equal to n... (insert rest of proposition)."
You can simply use a comma to mean "such that," but generally it makes your math much less understandable. For instance, "$\forall n\in \mathbb{N}, n^2 \geq n$" could mean "...for all $n$ such that $n^2 \geq n$" or it could mean "Each $n\in \mathbb{N}$ has the property that $n^2 \geq n$"
Shorthand should never sacrifice clarity, so I would recommend "$\forall n\in \mathbb{N}$ s.t. $n^2 \geq n$..." Basically,
- Follow appropriate conventions
- Never sacrifice clarity for conciseness.