I'm given the following predicate that I'm trying to understand from a course example.
$\forall n \in\mathbb N : n^2 \ge n$
is the colon for such that correct?
I understand that it reads as "for all elements in the natural set such that the square of n is greater or equal to n"
Should it be $\forall n \in\mathbb N, n^2 \ge n$? "for all elements in the natural set the square of $n$ is greater or equal to $n$"
it makes more sense to me this way. But I'm not sure if my assumption is correct.
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,